DTCC's Deriv/SERV Trade Information Warehouse Wins "Technology Platform of the Year" from Risk Magazine.

LONDON -- DTCC's Deriv/SERV Trade Information Warehouse was recognised last week as the "Technology Platform of the Year" by Risk magazine. The warehouse is a centralised global infrastructure for the post-trade processing of over-the-counter (OTC) derivatives launched by The Depository Trust & Clearing Corporation (DTCC) in November 2006.

Risk magazine's Annual Awards recognise best practice and innovation in the derivatives and risk management industries globally. An expert panel at Risk decided the winners over a three-month judging process, which included a lengthy due diligence process, including customer references and an in-depth look at each platform.

"The Deriv/SERV Warehouse is a critical part of how DTCC is bringing automation to the OTC derivatives community, and our progress to date has been achieved through collaboration with customers and market participants globally," said Robert J. McGrail, executive managing director, Domestic and International Core Services, DTCC. "We are grateful that Risk magazine has honoured us with this award."

In recognizing the Trade Information Warehouse, Risk highlighted the platform's speed to market, noting the service was delivered "on time and budget in an aggressive schedule from a February announcement to a November launch date."

The Trade Information Warehouse provides a comprehensive trade database and support infrastructure that automates and standardises post-trade processes (such as payments, notional adjustments and contract term changes) over a contract's life, which can extend five or more years. The warehouse decreases operational risk by automating manual, bilateral reconciliation and processing for Deriv/SERV's 750+ customers, which include global derivatives dealers, traditional asset managers, global investment banking firms, and hedge funds.

Today, Deriv/SERV electronically confirms 80% of credit derivatives traded globally, up from 40% in 2005. The warehouse builds on Deriv/SERV by using confirmed trade details as input for the warehouse, so that post-trade processing flows automatically from up-to-date trade terms. Initially, the warehouse will support credit derivatives, and then extend to other OTC derivatives products including rates, equities, FX and commodities.

About Risk

Risk magazine is the leading publication for the global derivatives and risk management communities. Celebrating its 20th anniversary this year, Risk is read by more than 80,000 financial professionals each month and its annual awards are widely acknowledged and celebrated for the standards of excellence they have established for the markets covered by the magazine.

Risk is published by Incisive Media, a London-based business information provider. See www.Risk.net for more information about Risk.

About DTCC

The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC's depository provides custody and asset servicing for more than 2.5 million securities issues from the United States and 100 other countries and territories, valued at $31.2 trillion. In 2005, DTCC settled more than $1.4 quadrillion in securities transactions. DTCC has operating facilities in multiple locations in the United States and overseas. DTCC's derivatives services are offered through DTCC Deriv/SERV LLC, a wholly owned subsidiary of DTCC. For more information on DTCC, visit www.dtcc.com.