DTCC Deriv/SERV Connection Now Available on SWIFTNet

DTCC Deriv/SERV Connection Now Available on SWIFTNet

October 11, 2006

    SYDNEY, Australia and NEW YORK, Oct. 11
/Xinhua-PRNewswire/ -- The Depository Trust & Clearing
Corporation (DTCC) today announced that a connection to its
Deriv/SERV over-the-counter (OTC) derivatives matching and
confirmation service is now available on SWIFTNet, SWIFT's
Internet Protocol (IP) messaging platform.  The link
between the two services allows customers on the SWIFTNet
platform to deliver real-time, transaction data to DTCC
Deriv/SERV for matching and confirmation without having to
create a separate, direct computer-to-computer connection
to DTCC. 

    "Our ability to provide customers with access to
Deriv/SERV via SWIFTNet enables them to reuse their
investment in the SWIFTNet infrastructure and communicate
with Deriv/SERV in a time-efficient and cost-effective
manner," said James P. Donovan, Head of Securities
Industry Division and Member of the Executive Committee,
SWIFT. "This eliminates the need to operate and
maintain multiple links or the need to perform spreadsheet
uploads of data into Deriv/SERV."   

    DTCC Deriv/SERV provides automated matching and
confirmation for a wide range of credit, interest rate and
equity derivatives products.  Its global customer base
includes over 640 dealers and buy-side firms in more than
25 countries worldwide. SWIFT is the industry-owned
co-operative supplying standardized messaging services and
interface software to the financial industry.  In addition
to computer-to-computer messaging, market participants can
also connect to Deriv/SERV via a secure Web-browser
interface or a spreadsheet upload capability via the
Internet. 

    "Our collaboration with SWIFT expands the options
available to buy- and sell-side firms to transmit real-time
data to Deriv/SERV," said Peter Axilrod, managing
director, DTCC business development. "This allows us
to provide even greater automation levels and accuracy to
the market place."

    Connectivity to Deriv/SERV is made available though the
SWIFTNet InterAct messaging service.  It is secured with
SWIFTNet PKI for message authentication, encryption and
integrity control. 

    "This link with SWIFTNet is another example of how
DTCC is working with a number of complementary solution
providers to provide the market with greater access to
Deriv/SERV and the benefits of automated processing,"
added Axilrod.  

    Background on DTCC Deriv/SERV LLC:

    DTCC's derivatives services are offered through DTCC
Deriv/SERV LLC, a wholly owned subsidiary of DTCC.
Deriv/SERV is a global service offering focused on
automating the entire life cycle of OTC derivatives. The
service line includes:

    Affirmation: AffirmXpress(TM) is DTCC's first foray to
bring automation into the front-office for OTC derivatives.
It is a single-screen post-trade affirmation platform that
lets traders and front-office staffs affirm credit
derivative trades from multiple IDBs. Initially,
AffirmXpress will support credit derivatives, including
single-name and index credit default swaps (CDS), and
tranched index swaps. Future releases will include interest
rate and equity derivatives products. 

    Matching and Confirmation: Deriv/SERV provides
automated matching and confirmation for OTC derivatives
contracts, including credit, equity and interest rate
derivatives. According to major market participants, 70% of
credit derivatives traded globally are electronically
confirmed through Deriv/SERV, up from 15% in 2004. 

    Payments: Deriv/SERV provides payment matching and
bilateral netting services, providing greater accuracy and
straight-through processing. In 2005, more than 3.5 million
payment transactions were processed through Deriv/SERV. 

    Trade Information Warehouse: The warehouse will
comprise a comprehensive database containing the most
up-to-date record of each contract, as well as a processing
component that will standardize and automate
"downstream" processing over a contract's life
cycle. Beginning with credit derivatives, this global
infrastructure solution, which is being developed in close
collaboration with leading dealers and buy-side firms for
launch later this year, will eventually accommodate
interest rates, equities and other OTC derivatives.

    About DTCC

    The Depository Trust & Clearing Corporation (DTCC),
through its subsidiaries, provides clearance, settlement and
information services for equities, corporate and municipal
bonds, government and mortgage-backed securities and
over-the-counter credit and equity derivatives. DTCC's
depository also provides custody and asset servicing for
more than two million securities issues from the United
States and 100 other countries and territories. In
addition, DTCC is a leading processor of mutual funds and
insurance transactions, linking funds and carriers with
their distribution networks. DTCC has operating facilities
in multiple locations in the United States and overseas.
DTCC's derivatives services are offered through DTCC
Deriv/SERV LLC, a wholly owned subsidiary of DTCC. For more
information on DTCC, visit http://www.dtcc.com .

    For more information, please contact:

     Judy Inosanto, 
     DTCC
     Tel:   [phone]
     Email: [e-mail]

SOURCE  The Depository Trust & Clearing Corporation
(DTCC)