The Securities and Exchange Commission (SEC) has received an application from DTCC Data Repository (U.S.) LLC (DDR) to be registered as a Security-Based Swap Data Repository (SDR) and a Securities Information Processor (SIP). DDR intends to handle data for transactions involving equity, credit, and interest rate derivatives. The SEC is seeking public comments on this application to help decide whether to approve it. The application outlines how DDR plans to manage its operations, ensure security, and handle compliance with legal requirements.
Simple Explanation
The SEC is thinking about letting a company called DDR keep track of special trading data to help people understand big financial trades. They want to know what people think about this idea before saying yes or no.