The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that it is partnering with Snowflake, the Data Cloud company, to transform how data is accessed, shared and leveraged across a number of its services. Using the Snowflake Data Cloud, DTCC aims to further promote market transparency, reduce risk, and provide greater operational efficiency by leveraging Snowflake data and cloud technology.

As the financial services industry continues to modernize, there has been a focus on the need for better data access and how improved data analytics can drive strategic decision-making while reducing risk. finance and operations. Cloud technology has emerged as the ultimate way to deliver innovative services around data access and collaboration.

As part of this initiative, DTCC will leverage Snowflake technology to build applications that improve access to data and provide enhanced user experiences with interoperability and access control. higher. DTCC is exploring a number of new opportunities for these capabilities, including risk management, regulatory reporting for securities and derivatives financing transactions, and institutional post-trade processing.

“It is an exciting time to be in financial services, as technology advances at a rapid pace and introduces new capabilities to enhance how the industry operates,”

“We have been using Snowflake’s platform since 2018 and view their data applications as an integral part of DTCC’s modernization strategy. This strategic initiative will enable us to build upon our success and further transform the data ecosystem, unlocking new insights and supporting greater transparency to protect markets, increase efficiency, drive business and propel the industry forward.”

                                                              Lynn Bishop, Chief Information Officer at DTCC.

This endeavor deepens the connection we’ve built with Snowflake over the past few years. Most recently, DTCC and Snowflake worked together to make it easier for clients to use DTCC’s Kinetics data services. DTCC Kinetics offers market intelligence for many asset classes. Users of DTCC Kinetics can now access equity and fixed income data products through Snowflake Marketplace thanks to the Snowflake Data Cloud. In the upcoming months, DTCC will extend DTCC Kinetics capabilities on Snowflake Marketplace to more asset classes including ETFs, reference data, and corporate activities depending on client input and rising demand.

“DTCC is proud to be working with Snowflake to transform how DTCC Kinetics data is delivered to clients,”

“We look forward to building upon the success we’ve seen across equities and fixed income, and to expanding this capability to additional asset classes.”

                                                          Tim Lind, Managing Director of DTCC Data Services.

“DTCC has led with the vision for modernizing the financial services industry. As an early adopter of data in the cloud, DTCC is in a prime position to take advantage of Snowflake’s platform and Native Application Framework to fundamentally alter the way in which financial markets access and use data,”

“Snowflake has been core to several DTCC modernization initiatives and we look forward to this partnership to drive deeper insights for their clients.”

                                  Christian Kleinerman, Senior Vice President of Product, Snowflake.