An industry standard/ format that is designed to enhance over-the-counter derivatives (OTC derivatives) reporting and information exchange for asset managers, futures commission merchants (FCMs), central counterparties (CCPs) and custodians.
In other words, this standard can be used by the FCM and cleaning broker community to transmit OTC clearing related information on behalf of their asset manager clients to custodian institutions. Overall, the standard helps provides market participants and brokers with program management, governance and industry oversight.
The clearing connectivity standard is a freely and publicly available standardized data transfer format that facilitates the reporting and clearing of OTC derivatives.
It known for short as CCS.
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