Trade Information Warehouse (TIW)

DTCC pioneered ground-breaking derivatives services in 2006 when it established the Trade Information Warehouse (TIW), the industry’s first infrastructure for record retention and asset servicing of cleared and bilateral credit derivatives. TIW’s robust infrastructure provides automated operational capabilities across three service offerings -- the Warehouse, Lifecycle Event Processing, and Central Settlement -- for approximately $10 trillion of credit derivatives worldwide.

• About

  

   

  Warehouse: TIW’s Warehouse is a centralized, electronic database holding the most current details on the official, legally confirmed record for virtually all cleared and bilateral CDS contracts outstanding in the global marketplace. The warehouse contains approximately 70,000 accounts representing derivatives counterparties across 95 countries.

  Warehouse services available to all TIW users include:

  Lifecycle Event Processing: This comprehensive electronic service automates all phases of post-trade processing for over-the-counter (OTC) credit derivatives throughout their multiyear lifecycles.

  Central Settlement: Through a partnership with CLS Bank International (CLS), TIW offers Central Settlement services for OTC credit derivatives contracts held at the Warehouse. Central Settlement automates the exchange of payments in multiple currencies due on bilaterally netted OTC CDS contracts, enabling the credit derivatives market to realize straight-through processing of contract obligations from trade confirmation to settlement with virtually no manual intervention.

• How It Works

  As part of a joint credit market infrastructure refresh program to help mitigate risk, enhance efficiencies, and drive down costs for market participants, TIW and OSTTRA’s TradeServ – the primary confirmation system for the credit default swap (CDS) market – were both reconfigured to leverage a modern, scalable, and resilient cloud-hosted architecture in October 2022.

  TIW and TradeServ now operate with independent administrative tools, customer and industry reference data, and users must onboard to each service separately.

  

• For More Information

  To request additional information, please click here.