The International Swaps and Derivatives Association (ISDA) has appointed the Depository Trust & Clearing Corporation (DTCC) for interest rate swap repository. ISDA issued the RFP for the same on March 14, 2011. The DTCC will be responsible for recording all trades in the $348 trillion interest-rate swap market, adds Bloomberg.
DTCC has replaced TriOptima, now a unit of ICAP, which in 2009 was selected by ISDA to record all transactions in the market. The New York-based clearing house also manages the trade repository for the credit-default swap market.
Click here for the release from ISDA.
Click here for additional coverage from Bloomberg.