The Trade Information Warehouse (TIW) is a centralised global trade repository for trade reporting and post-trade processing of OTC credit derivative transactions and virtually for all credit default swaps (CDS) contracts outstanding in the global marketplace. It is a service offered by the Depository Trust & Clearing Corporation and DerivSERV (a subsidiary of DTCC established in 2003). It offers services of repository, regulatory reporting and lifecycle event processing, particularly, the central settlement operated in collaboration with CLS (Continuous Linked Settlement) Bank.