The implementation of trade reporting of OTC derivatives and exchange traded derivatives in some jurisdictions continues to progress at a steady pace.

GTR’s top priority is to help our clients seamlessly meet their reporting obligations - including the upcoming 11 August EMIR deadline for collateral and valuation reporting. We

are also working diligently to resolve the issues we’ve faced in generating EU client reports in a timely fashion through a comprehensive development programme that we are putting in place to strengthen the functionality and resiliency of our service. We expect to share with our clients details on this development plan in the near future.

Since European reporting began in February 2014 our trade repository in this key market has grown to process 74 million transaction messages a week across all five derivatives asset classes. The number of entities for which we are reporting trades has reached 90,000 and our open OTC trades as of June are over 23 million with a gross notional value of approximately EUR433 trillion.

In Asia Pacific, we launched our reporting services for Singapore licensed banks in April 2014 and buy-side firms have just started reporting interest rate and credit derivatives to our Asia repository. In October, regulators in Australia and Singapore are implementing the next phase of trade reporting, expanding the population of market participants required to report trades as well as broadening the product set.

In the Americas, we are gearing up for the launch of trade reporting in Canada where trades involving a dealer or a clearing agency will need to be reported from 31 October.

DTCC is continuing its engagement with regulators globally about the important role trade repositories can have in improving the industry’s data aggregation processes and reporting standards worldwide. We believe the value of trade repositories to the market lies not only in how they serve regulatory compliance purposes, but also in how these services are helping our clients monitor their derivatives exposures and mitigate potential risks.

It has been an incredibly active several months for market participants and solutions providers in the derivatives markets around the world. We have collectively accomplished a great deal while also facing a number of challenges as we navigate the evolving operational and regulatory requirements of this highly complex market. I can assure you that all of us at DTCC are committed to enhancing the capabilities and effectiveness of our

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AUGUST 2014

platform and we thank you, our clients for your support and partnership as we work together to build an infrastructure that will foster a safer environment for the trading of derivatives instruments.

Yours Sincerely,

Sandy Broderick, CEO, DTCC Deriv/SERV

REGULATORY HIGHLIGHTS

Regulatory countdown:There are a number of imminent regulatory reporting deadlines across the globe.

EUROPE:

— 11 August 2014 – reporting start date for collateral and valuation

ASIA PACIFIC:

— 1 October 2014

— in Australia, reporting start date for CFTC registered swap dealers and major financial institutions who exceed the AUD50 bn threshold for equity, FX and commodity derivatives

— reporting start date for corporates in Singapore with SGD8 bn position threshold, for interest rate and credit derivatives

AMERICAS:

— 31 October 2014 – reporting start date for swap dealers in Canada

For more information on various developments and activities on the regulatory front globally, see our regulatory newsletter, “Across The Pond”.

■■ Number of accounts: more than 90,000

■■ Number of new clients a week: ~50

■■ Total submissions reported as of 28 June 2014: greater than 1 billion

■■ Open OTC trades as of 28 June 2014: greater than 23,000,000 (more than 50% increase since end of March 2014)

■■ Number of third party providers connected: 70

■■ Number of client firms signed up on CRDE: 11

FAQ ON GTR EMIR REPORTING: COLLATERAL & VALUATION

1. Is the DTCC website available to test collateral valuation messages?

The DTCC UAT platform is available to test all of these messages for all submitters – CORE, OTC Lite, ETD.

2. What message type is used to submit valuations?

The valuation message can be used to submit valuations. Alternatively, this information can be included in snapshot and position messages.

3. Should the collateral valuation be reported on the basis of the final position available in the collateral portfolio at EOD, or on the basis of the change in the value of the portfolio day to day?

The collateral valuation reporting needs to be produced on the basis of the final position available in the collateral portfolio at the end of the day.

Click on any of the headlines to go to the article.

GTR EMIR REPORTING IN NUMBERS

DTCC has in place a dedicated team of professionals committed to establishing a robust platform and delivering the highest quality of services that meets the needs of our broad client base. As we continue to develop a strong bench of talent on the GTR management team, we have made a number of noteworthy appointments.

Europe:■■ Simon Farrington, Vice President, has joined DTCC as Global Head of Derivatives Operations and Client Services. Simon was previously Executive Director of Global Integration at Omgeo, leading Omgeo’s technical integration and client on-boarding efforts across the globe.

■■ Peter Garratt, Vice President, has been charged with overseeing the GTR product management function. In this role he is responsible for all GTR change initiatives and new product development.

■■ Andrew Jones, Managing Director, has been named Global Head of Derivatives Technology Operations and International Head of Derivatives Technology, responsible for operating the global technology platform and managing international regulatory relationships regarding technology services and deliverables. He was most recently the Global Head of Electronic Capital Markets IT and Head of IT for the Hong Kong branch of Macquarie Securities.

■■ Ian McLelland, Managing Director, has been named CEO of the European Trade Repository. Ian will work with partners across the GTR business to translate regulatory and industry requirements into new products and services for our clients globally. Ian was previously Global Head of Product Development for GTR.

■■ Bhagwant Singh, Vice President, is serving as Head of Risk Management for GTR. He was previously overseeing risk management for EuroCCP.

Asia Pacific:■■ Seiji Ryusekido, Managing Director, has joined DTCC, responsible for the Japan Trade Repository. Prior to joining DTCC, Seiji served as Managing Director, Head of Enterprise Risk Management for Citibank Japan.

U.S.:■■ Mieko Shibata, Managing Director, has been named Global Head of Applications Development and Maintenance for Derivatives Technology. Mieko is responsible for all development activities and associated business analysis, architecture, and project management. Mieko was most recently with JP Morgan’s Corporate Investment Bank as the Global Lead of Clearance and Collateral Management technology.

NEWS ON THE GTR TEAM

■■ 3-4 September – Banken im Umbruch – Frankfurt. Speaker: Larry Thompson, Managing Director and General Counsel, DTCC and Chairman of the Board of DTCC Deriv/SERV.

■■ 29 September – BBA EMIR seminar – London. Speaker: Andrew Green, Head of Sales and Relationship Management for Europe, DTCC Deriv/SERV.

GTR AT EVENTS

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MARKET DATAGTR WORKING GROUPS

■■ Global Trade Repository Reports

■■ EMIR public reports

We have set-up a number of working groups, open to all of our clients, to discuss pending issues, questions and GTR product developments.

For more information on our working groups and how to participate, please contact the GTR Relation-ship Management team in your region:GTR-Americas@dtcc.comGTR-EMEA@dtcc.comGTR-APAC@dtcc.com