The Depository Trust and Clearing Corporation (DTCC) has unveiled Smart/Search, a new service that provides firms with online access to several years of archived transactional reports from the US depository.
Accessible over the Internet or through DTCC's secure private network, Smart users can log in to the system to view past activity, positions and settlement. DTCC is also planning to provide access to TradeSuite confirms and billing statements.
Previously customers could only view 60 business days of transactional history and accessing reports beyond 60 days was a labour-intensive process requiring firms to submit a request to have the reports reviewed.
Michael Vellecca, product management director, DTCC Network Services, says: "A tool like Smart/Search, which allows direct, streamlined access to archived reports, is going to be much more convenient and efficient for firms to use."
Customers can also now choose to have search results reported in multiple formats, including viewing directly online within the browser, via file download, e-mail link or e-mail attachment.
The service was rolled to ten firms in pilot on June 30. DTCC says Smart/Search is likely to be available to all users by year-end.