The Depository Trust and Clearing Corporation has announced plans for an Obligation Warehouse to automate the matching and confirmation of broker-to-broker trades.

The service should give member firms real time access to track, manage and resolve their failed obligations, DTCC says.

The service, an offering of DTCC’s clearing agency subsidiary, the National Securities Clearing Corp, is expected to be fully functional by June, with implementation beginning in March. The Securities and Exchange Commission has approved NSCC’s related rule filing.

“The OW represents a giant leap forward in helping financial firms better manage and address the operational risks and costs associated with processing broker-to-broker ex-clearing trades, as well as failed obligations,” said Susan Cosgrove, DTCC managing director.

The clearing house has also launched an online portal to give worldwide regulators access to global credit default swap data registered in DTCC’s Warehouse Trust Co repository.

Nineteen regulators are live on the portal, the first such global regulatory service of its kind.

The system was designed based on guidance from the OTC Derivatives Regulators’ Forum about data access protocols.

Stewart Macbeth, general manager of Warehouse Trust, said in a statement: “We have been committed since the inception of DTCC’s central repository to providing data on global OTC derivatives transactions so that regulators can view risk exposures from a central vantage point as a means to help protect markets against systemic risk.”