DTCC Deriv/SERV Connection Now Available on SWIFTnet.

SYDNEY, Australia & NEW YORK -- The Depository Trust & Clearing Corporation (DTCC) today announced that a connection to its Deriv/SERV over-the-counter (OTC) derivatives matching and confirmation service is now available on SWIFTNet, SWIFT's Internet Protocol (IP) messaging platform. The link between the two services allows customers on the SWIFTNet platform to deliver real-time, transaction data to DTCC Deriv/SERV for matching and confirmation without having to create a separate, direct computer-to-computer connection to DTCC.

"Our ability to provide customers with access to Deriv/SERV via SWIFTNet enables them to reuse their investment in the SWIFTNet infrastructure and communicate with Deriv/SERV in a time-efficient and cost-effective manner," said James P. Donovan, Head of Securities Industry Division and Member of the Executive Committee, SWIFT. "This eliminates the need to operate and maintain multiple links or the need to perform spreadsheet uploads of data into Deriv/SERV."

DTCC Deriv/SERV provides automated matching and confirmation for a wide range of credit, interest rate and equity derivatives products. Its global customer base includes over 640 dealers and buy-side firms in more than 25 countries worldwide. SWIFT is the industry-owned co-operative supplying standardized messaging services and interface software to the financial industry. In addition to computer-to-computer messaging, market participants can also connect to Deriv/SERV via a secure Web-browser interface or a spreadsheet upload capability via the Internet.

"Our collaboration with SWIFT expands the options available to buy- and sell-side firms to transmit real-time data to Deriv/SERV," said Peter Axilrod, managing director, DTCC business development. "This allows us to provide even greater automation levels and accuracy to the market place."

Connectivity to Deriv/SERV is made available though the SWIFTNet InterAct messaging service. It is secured with SWIFTNet PKI for message authentication, encryption and integrity control.

"This link with SWIFTNet is another example of how DTCC is working with a number of complementary solution providers to provide the market with greater access to Deriv/SERV and the benefits of automated processing," added Axilrod.

Background on DTCC Deriv/SERV LLC:

DTCC's derivatives services are offered through DTCC Deriv/SERV LLC, a wholly owned subsidiary of DTCC. Deriv/SERV is a global service offering focused on automating the entire life cycle of OTC derivatives. The service line includes:

Affirmation: AffirmXpressTM is DTCC's first foray to bring automation into the front-office for OTC derivatives. It is a single-screen post-trade affirmation platform that lets traders and front-office staffs affirm credit derivative trades from multiple IDBs. Initially, AffirmXpress will support credit derivatives, including single-name and index credit default swaps (CDS), and tranched index swaps. Future releases will include interest rate and equity derivatives products.

Matching and Confirmation: Deriv/SERV provides automated matching and confirmation for OTC derivatives contracts, including credit, equity and interest rate derivatives. According to major market participants, 70% of credit derivatives traded globally are electronically confirmed through Deriv/SERV, up from 15% in 2004.

Payments: Deriv/SERV provides payment matching and bilateral netting services, providing greater accuracy and straight-through processing. In 2005, more than 3.5 million payment transactions were processed through Deriv/SERV.

Trade Information Warehouse: The warehouse will comprise a comprehensive database containing the most up-to-date record of each contract, as well as a processing component that will standardize and automate "downstream" processing over a contract's life cycle. Beginning with credit derivatives, this global infrastructure solution, which is being developed in close collaboration with leading dealers and buy-side firms for launch later this year, will eventually accommodate interest rates, equities and other OTC derivatives.

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 and over-the-counter credit and equity derivatives. DTCC's depository also provides custody and asset servicing for more than two million securities issues from the United States and 100 other countries and territories. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. 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.