DTCC signs up more than 1,300 funds for its Loan/SERV Reconciliation Service

By Sara Rosenberg

New York, Aug. 3 - The Depository Trust & Clearing Corp. has more than 1,300 investment funds linked to its Loan/SERV Reconciliation Service, according to a news release.

The Loan/SERV Reconciliation Service enables agent banks and lenders to track, view and reconcile loan positions on a daily basis. The service provides information on more than 75,000 loan positions.

"Leading global investment management firms realize they need to make sure their loan positions are on the same page as the agent banks to ensure the accurate and timely servicing of these loans," said Chris Childs, DTCC vice president, Global Loans Product Management, in the release.

"Loan/SERV provides this data access in real time. By linking to Loan/SERV, these fund managers are introducing cost savings, boosting efficiencies and providing greater transparency in the syndicated loan market," Childs added.

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