NEW YORK & BOSTON--(BUSINESS WIRE)--The Depository Trust & Clearing Corporation (DTCC) and the Retirement Income Industry Association (RIIA) announced today that they have signed an agreement under which DTCC will provide certain information from its Insurance & Retirement Service’s new online Analytic Reporting for Annuities service, which RIIA will distribute to its members. The Analytic Reporting for Annuities service is a service offering of National Securities Clearing Corporation (“NSCC”), a DTCC subsidiary.
RIIA’s Research Committee will work with its members to define custom views of the information from the Analytic Reporting service, such as reports that include inflows, outflows and net flows by product, state and trading relationship. The information will help RIIA members understand their place in the market and competitive landscape.
“RIIA’s vision is to benchmark and evaluate retirement products and services across product silos. We view DTCC’s Analytic Reporting Service as a break-through program and an important step in the fulfillment of that vision,” said Francois Gadenne, Chairman of the Board and Executive Director of RIIA. “Our agreement to work together has immediate benefits and even greater long term potential to achieve the strategic objectives of both of our organizations.”
Information and Intelligence
Analytic Reporting for Annuities is an online information solution containing aggregated data from millions of daily transactions processed by DTCC’s Insurance & Retirement Service (I&RS). The solution gives NSCC members a unique view of their own business and business relationships, as well as the overall market for annuity products.
“We are very excited to be working with RIIA,” said Adam Bryan, Managing Director, I&RS. “Our Analytic Reporting Service helps firms manage and grow their businesses, and RIIA’s expertise in retirement income market will provide great additional value to the industry.”
More information about the service can be found at www.dtcc.com/analytics.
About DTCC
DTCC, through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC's depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US$36.5 trillion. In 2010, DTCC settled nearly US$1.66 quadrillion in securities transactions. DTCC has operating facilities and data centers in multiple locations in the United States and overseas. For more information, please visit www.dtcc.com.
About the Retirement Income Industry Association (www.riia-usa.org)
Founded in 2006 by leading companies, advisors and academics, RIIA and its members address the challenges facing the dramatically changing retirement income landscape. RIIA’s mission as a national not-for-profit organization is to bring the retirement income industry together with a “View Across Silos” to stimulate the development of the education, products, processes and advisory services Americans and their advisors need to create a secure retirement. Because RIIA members span the entire industry, they create a forum for sharing the freshest outlooks, the most modern thinking, the latest research and the newest product development within the realm of retirement income.