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exception management and reprocessing . Increasingly we are seeing regulators stipulate the format of inbound messages using , for example , ISO 20022 . The DTCC Report Hub data normalisation service enables firms to provide data in multiple forms and translate it into the format required by the regulator . DTCC Report Hub prereporting services also include a customisable rules engine that allows firms to configure bespoke rules for pre-reporting validations with format checks , mandatory checks and conditional checks .
Many buy-side firms are choosing to delegate their trade submissions to another party , and DTCC Report Hub has a delegated reporting feature to facilitate such submissions to an applicable TR or ARM . The feature facilitates a delegated trade submission on behalf of a reporting counterparty once they have established the applicable permissions at the receiving TR or ARM . Where a DTCC Report Hub user has delegated its reporting obligation for certain trades to another firm , DTCC Report Hub will identify and automatically suppress such trades prior to their submission to a TR or ARM .
DTCC Report Hub interfaces with TRs and ARMs to facilitate trade submissions . But once data is submitted , additional work needs to be performed to manage the trade data . DTCC Report Hub ’ s post-reporting reconciliation module allows users to reconcile the data held in their internal systems against end-of-day reports provided by TRs / ARMs . This process supports checks against counterpartysubmitted data to help firms meet applicable regime specific reconciliation requirements . The DTCC Report Hub data insights module automatically generates trade-details dashboards and submissions monitoring to support extensive data analysis and provide users with insights into their data .
As a comprehensive pre- and post-reporting solution , DTCC Report Hub gives firms the most robust capabilities available to meet current and future transaction reporting challenges . Firms can utilise the entire suite or choose only those modules they need .
Does DTCC offer any other support around trade reporting ? Childs : DTCC Report Hub gives firms a powerful suite of pre- and post-reporting services that can help alleviate burdens on inhouse staff , increase operational efficiencies and reduce costs . Nevertheless , firms must continue to address internal operations and technology challenges that affect their ability to remain competitive and stay abreast of evolving regulatory requirements . In some cases , outdated infrastructure is imposing unneeded costs and slowing key processes . Firms that have repeatedly modified their infrastructure in response to new and revised mandates may need a top-to-bottom infrastructure overhaul .
In other cases , firms may need help identifying and undertaking discrete projects that can yield large benefits to their trade reporting activities . Such projects include simplifying their data sets , upgrading the sourcing of their data elements related to collateral and unique identifiers , and creating new or upgrading existing performance and dataquality monitoring systems .
Whether the needs are sweeping or project specific , DTCC can provide assistance through DTCC Consulting Services . Firms can engage DTCC Consulting Services to help them spot and pursue opportunities to tackle large-scale upgrades to systems , processes , controls and governance , or carry out small-scale improvement programs . DTCC Consulting teams can also undertake strategic evaluations with followup tasks to be implemented by the firms themselves .
As the operational complexities and compliance costs of global trade reporting promise to continue to weigh heavily on the financial services industry , firms are seeking the most efficient , cost-effective means of meeting their regulatory obligations . With DTCC Report Hub and GTR , along with the option to access strategic advisory services from DTCC experts , DTCC can deliver the solutions they need .
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