DTCC’s TIW Project Reprint With DLT Function Goes Unused
On March 11, the reprint of the Transaction Information Warehouse (TIW) project of the American Depository Trust and Clearing Corporation (DTCC) was launched in
On March 11, the reprint of the Transaction Information Warehouse (TIW) project of the American Depository Trust and Clearing Corporation (DTCC) was launched in October 2022. The service has been delivered on cloud technology and supports distributed ledger technology (DLT) function at the access layer. However, it seems that no customer is interested in connecting through the latter.
The blockchain access function of the US DTCC transaction information database is “no one cares”
Analysis based on this information:
The American Depository Trust and Clearing Corporation (DTCC) is known for its innovative projects and services, one of which is the Transaction Information Warehouse (TIW) project. The TIW project is a repository for post-trade information of the OTC (over-the-counter) derivatives market. The project was first launched in 2006 and has since then undergone several upgrades, with the latest being the October 2022 reprint. The reprint included an upgrade in technology, specifically in the use of cloud technology and distributed ledger technology (DLT) functions at the access layer.
However, despite the upgrade, it seems that no customer is interested in connecting through the DLT function. This raises a few questions such as why customers are not interested in using a technology that is often associated with security, credibility, and efficiency. It is also worth noting that DLT technology and its applications have gained popularity in recent years, specifically in the financial industry.
It is possible that customers are not yet ready to adopt DLT technology due to a lack of familiarity and understanding of the technology. Additionally, customers may be hesitant to switch to a new platform, especially if their current system is working well for them. It is also possible that customers do not see a significant advantage in using the DLT function compared to the cloud technology that is already in place.
Despite the lack of interest in the use of DLT function, the use of cloud technology has proven to be successful in supporting the TIW project. Cloud technology has been known for its flexibility, scalability, and cost-effectiveness. It is also an accessible technology, allowing customers to access the system from anywhere, as long as they have an internet connection.
In conclusion, the launch of the TIW project reprint with DLT function goes unused, but the implementation of cloud technology has proven to be successful. While DLT technology is often associated with security, credibility, and efficiency, customers may not be ready to adopt the technology yet. Nonetheless, the DTCC’s TIW project continues to be an innovative project that supports the OTC derivatives market.
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