DTCC to open Dublin office in preparation for Brexit

The Depository Trust & Clearing Corporation, one of the world's largest trade repositories, plans to open a hub in Ireland in the coming months as the largest operators infrastructure will be competing for Brexit next year.

DTCC, which holds about four-fifths of the global derivatives market, said Wednesday it would open an office in Dublin. He plans to hire new employees and does not plan to relocate UK-based employees from his offices in London or Wrexham. DTCC employs more than 300 people in the UK

Last week, the regulator of the EU's financial markets sounded the alarm about preparing institutions for a tough Brexit, joining a set of 39 European organizations who warned that it was not enough. ]

Companies have until the end of the month to make claims to local regulators or may not be allowed until March 29 when the UK will leave the European Union, warned European Securities and Markets Authority

. framework, which were put in place after the crisis to help the authorities to identify the leverage effects in the financial system. Data warehouses store information on swaps and futures and are mainly managed by stock exchanges. "Whatever the outcome of the final negotiations between the EU and the UK, the DTCC RTG will maintain a presence in the UK and aim to establish a new central repository entity in Ireland," said Andrew Douglas, General Manager of DTCC's European Branch for Global Trade Data Repository

Companies managing plumbing facilities in global markets have stepped up preparations in recent weeks amid uncertainty over Brexit deal . The exchange by the value of the shares traded, and its rival Turquoise, majority owned by the London Stock Exchange Group, both submitted applications in late June to Dutch regulators to establish entities in Amsterdam.

TP ICAP, the interdealer broker, settled in Paris for its European base for its European operations and is in talks with local regulators.