By accessing underlying security data already held at NSCC and DTC on a more frequent basis, firms can better prepare to meet T+1 and accelerated settlement timelines

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, announced an enhanced fixed income security master file data offering, providing more data at a higher frequency.

The enhanced security master file, known as Corporate Fixed Income Premium Intraday Reference Data, contains more than 20 new data elements, including security description, bond duration, interest rate, coupon frequency and details referencing whether the security is convertible, puttable or callable. DTCC serves a unique position in the market by being the lynchpin for reference data and corporate actions between issuers, custodians, and beneficial owners. The data is refreshed every 30 minutes, 23 times per day.

With this enhancement, firms have access to an expanded data set on a timelier basis, enabling organizations to reduce front and back-office friction by leveraging security reference data required to process trades on newly issued bonds faster. Quicker data access also enables portfolio managers to ascertain portfolio composition, comply with portfolio holding guidelines (such as asset allocation), and inform trading opportunities. In addition, firms can consider new issuances and security characteristics while making trading decisions. By expediting operational reference data creation and validation, firms can improve their operational processes and lower cost and risk.

“Intraday corporate fixed income data is critical for the identification, valuation, trading, and settlement in the secondary market. The T+1 transition requires firms to operate more quickly within shorter timeframes. Having access to underlying security data on a timelier basis can help firms achieve that objective,” said Tim Lind, Managing Director of DTCC Data Services. “DTCC is a primary channel that debt issuers use to inform investors and custodians of corporate actions and new securities they bring to market. Data Services continues to advance the maturity and efficiency of the market by accelerating the delivery of data to the investor community.”

DTCC’s Security Master File offers up-to-date and reliable information on securities eligible for servicing and processing at DTCC’s National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTC). The service contains data from NSCC and DTC, and is available from 6:15 AM to 5:15 PM ET, alongside one final end-of-day report at 10:15 PM ET. Corporate Fixed Income Premium Intraday Reference Data also offers a full security master file of all active corporate fixed income securities daily, from Monday to Friday at 10:30 PM ET.

Source: DTCC