Warehouse: TIW’s Warehouse is a centralized, electronic database holding the most current details on the official, legally confirmed record for virtually all cleared and bilateral CDS contracts outstanding in the global marketplace. The warehouse contains approximately 70,000 accounts representing derivatives counterparties across 95 countries.
Warehouse services available to all TIW users include:
Lifecycle Event Processing: This comprehensive electronic service automates all phases of post-trade processing for over-the-counter (OTC) credit derivatives throughout their multiyear lifecycles.
Central Settlement: Through a partnership with CLS Bank International (CLS), TIW offers Central Settlement services for OTC credit derivatives contracts held at the Warehouse. Central Settlement automates the exchange of payments in multiple currencies due on bilaterally netted OTC CDS contracts, enabling the credit derivatives market to realize straight-through processing of contract obligations from trade confirmation to settlement with virtually no manual intervention.