02.05.2020

DTCC Launches API Marketplace

The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, today announced the launch of its Application Programming Interface (API) Marketplace (‘Marketplace’) to provide its clients, partners and internal developers with a single, central location for APIs developed by DTCC, streamlining access to services and improving the user experience.

“APIs will continue to play an important role in the future of financial services across the retail, institutional and post-trade areas,” said Lynn Bishop, CIO at DTCC. “In the on-demand, personalized service age of Netflix, Hulu and Amazon, expectations have evolved, with clients now wanting to access services in different ways that are unique to their individual business needs. We are pleased to launch our new Marketplace and provide clients with API access that delivers the flexibility they need to conduct business the way they want to.”

DTCC’s Marketplace is an online DTCC API “App Store”, allowing direct programmatic access to DTCC processing functionality. The Marketplace includes comprehensive documentation and training materials to help developers use the APIs.

“The role of technology in advancing the financial services industry is more critical than ever, enabling firms to better meet the evolving needs of clients,” Bishop added. “APIs are the building blocks of this digital transformation, and in today’s interconnected world, they have risen in prominence and become important to every facet of the enterprise. We look forward to taking advantage of this new technology for the benefit of DTCC and our clients.”

DTCC recently launched its first API for its Risk Management as a Service (RMaaS), which allows firms to gain greater insight into their current and historical unsettled positions to more efficiently analyze and manage risk and liquidity across functions and activities, including monitoring and surveillance and regulatory compliance. Companies or developers interested in using the API can sign up and test it in a sandbox environment.

Additional APIs for other DTCC products and services are in development, including one that will help clients to submit, update, and query new and existing claims against Corporate Action events. Future APIs will be launched later this year and beyond.

Source: DTCC

Related articles

  1. It may take between 10 and 15 years for DeFi to be broadly accepted across financial markets.

  2. Crypto investor Amy Wu joined to lead Ventures, gaming, M&A and commercial initiatives.

  3. Five banks joined tests for settling interbank, monetary policy and cross-border transactions in Swiss francs.

  4. The office is the company's first outside the United States.

  5. Batch Auctions Could Combat HFT

    Countless firms are looking to fill the gaps in institutional trading of digital assets.