DTCC says Dodd-Frank provision could force it from U.S.

10/25/2011 | Bloomberg Businessweek

Dan Faryniarz, an executive at Depository Trust & Clearing, says the trade repository might relocate its data center outside the U.S. if the Dodd-Frank Act prompts foreign companies to no longer send information on trades. The law requires foreign regulators to compensate trade repositories in the U.S. for any legal expenses that might arise when trade information is publicly disclosed. Faryniarz told participants at an ISDA conference that the situation could lead to a fragmentation of the market data.

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