The CBRS enhancements are designed as per the 2008 US Emergency Economic Stabilization Act that mandates firms to pass cost basis information among financial intermediaries when assets move from one institution to another.
Additional enhancements for CBRS will help firms to comply with future reporting mandates for fixed income and options, which is expected to be effective in 2013.
DTCC Clearing Services managing director and general manager Murray Pozmanter said that the new tools will enable further mitigation of risk, support standardization and improve processing efficiencies.
Pozmanter added: "Legislation surrounding cost basis reporting presents a new challenge to financial intermediaries and CBRS aims to help the industry comply with the regulation that continues to roll out in various market segments."
The company had built an enhanced technology solution for its platform in 2010 to help customers comply with legislation mandates for reporting cost basis information on equity positions.
