The Depository Trust & Clearing Corporation (DTCC) announced that its Alternative Investment Product (AIP) service has reached 2,500 unique clients driven by an enhanced understanding of the value AIP brings to their organization, specifically in the post-trade reporting space.
“Our continued client growth demonstrates the value of the AIP service. By removing manual transactions, standardizing data and accelerating the processing lifecycle in alternative investments, firms can lower their operational risks and costs,” said Justin Schwartz, executive director of Product Management for Wealth Management Services at DTCC, in a statement.
DTCC’s AIP service is a centralized trading and reporting platform that connects the alternative investments industry to exchange data, securely and efficiently. The service includes standardized money settlement for orders, distributions and other financial activity. AIP is strategically situated between product providers or issuers and distributors, acting as a transaction processing and trade execution channel.
“AIP was created with a vision to modernize and transform the alternatives industry by introducing a centralized, universal standard for processing, reporting and settling transactions. With our community continuing to grow, we are making this vision a reality while reducing costs and risks for the industry,” Schwartz said in a statement.