Home Technology DTCC partners with Snowflake to transform the financial industry’s data ecosystem

DTCC partners with Snowflake to transform the financial industry’s data ecosystem


Depository Trust and Clearing Corporation (DTCC), the leading post-trade market infrastructure for the global financial services industry, today announced a collaboration with Snowflake, a Data Cloud company, to transform the way data is accessed, shared and used across a range of its services. Leveraging Snowflake’s data cloud, DTCC aims to further promote market transparency, reduce risk and increase operational efficiency using Snowflake’s data and cloud technologies.

As the financial services industry continues to modernize, there has been a sharp focus on the need for improved access to data and how advanced data analytics can support strategic decision-making while reducing financial and operational risk. Cloud technology has become the optimal way to provide innovative services related to data access and collaboration.

As part of this initiative, DTCC will use Snowflake technology to build applications that improve the way data is accessed and provide an enhanced user experience with greater interactivity and access control. DTCC is exploring several new opportunities for these opportunities, including risk management, regulatory reporting for derivatives and securities financial transactions, and institutional post-trade processing.

“This is an exciting time for the financial services industry as technology advances at a rapid pace and introduces new opportunities to improve how the industry functions,” said Lynne Bishop, DTCC Chief Information Officer. “We have been using the Snowflake platform since 2018 and see their data applications as an integral part of DTCC’s modernization strategy. This strategic initiative will allow us to build on our success and further transform the data ecosystem by unlocking new insights and supporting greater transparency to protect markets, improve efficiency, advance business and advance the industry.”

This effort expands on the relationship Snowflake has developed over the past few years. Most recently, DTCC and Snowflake partnered to make shipping easier Kinetics of DTCC data offers to customers. DTCC Kinetics provides market insights across asset classes. Thanks to the Snowflake Data Cloud, DTCC Kinetics users can now access equity and fixed income data products through the Snowflake Marketplace. In the coming months, based on customer feedback and growing demand, DTCC will expand DTCC Kinetics on the Snowflake Marketplace to additional asset classes, including ETFs, benchmarks and corporate actions.

“DTCC is proud to work with Snowflake to transform the way DTCC Kinetics data is delivered to clients,” said Tim Lind, managing director of the company DTCC Data Services. “We look forward to building on our success in equities and fixed income and expanding this opportunity into additional asset classes.”

“DTCC is leading the way with a vision to modernize the financial services industry. As an early adopter of data in the cloud, DTCC is in an excellent position to take advantage of Snowflake and the Native Application Framework to fundamentally change the way financial markets access and use data,” said Christian Kleinermann, SVP of Products. , Snowflake. “Snowflake is at the core of several DTCC modernization initiatives, and we look forward to this partnership to provide greater insight to our customers.”


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