The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that it intends to open a new office in Dublin, Ireland.

The company plans to continue providing an authorised regulatory reporting service for clients in the EU27 and the UK as the UK advances towards a departure from the European Union (EU) in March 2019. DTCC offers a Global Trade Repository (GTR) service for over-the-counter and exchange traded derivatives reporting – the largest trade repository in the world.

DTCC’s GTR serves approximately 80% of the global financial market, and, according to European Securities Markets Authority (ESMA) figures, is operating as the largest trade repository in Europe.

DTCC has had a strong presence in Europe for over two decades, including in London, Wrexham, Brussels, Frankfurt and Stockholm.

Speaking today, Minister for Business, Enterprise and Innovation, Heather Humphreys said, "I was delighted to see that DTCC will be opening an office in Dublin. This once again shows that Ireland is now a major player and a very attractive location for financial services companies from all over the world."

Managing Director, EMEA at DTCC. Simon Farrington added, “We look forward to hiring and developing a local team, and working with lawmakers, regulators, trade associations and other key industry stakeholders to ensure the success of our new operations in Ireland."

Source: www.businessworld.ie