Derivatives industry achieves new targets in confirmation processing, says Isda
The derivatives industry is setting and achieving new targets on confirmation processing, according to the International Swaps and Derivatives Association.
Confirmation processing for less standardised products such as credit and equity derivatives also improved, as 83% of credit derivatives and 84% of equity derivatives confirmations were sent out in the T+5 target time.
Isda chief executive Robert Pickel said: “The derivatives industry continues to improve its operational processing performance and to set and meet more stringent goals."
The responses also show that outstanding confirmations have decreased across product areas.
Automation, including the use of Financial products Markup Language (FpML), also increased steadily. Forward rate agreements and currency options showed the highest degree of automation, with 22% of respondents auto-matching at least 50% of their confirmations. A total of 47% of the respondents plan to increase automation of credit derivatives matching capabilities in 2003.
Isda’s annual operations benchmarking survey, initiated in 2000, identifies and tracks operations processing trends in the privately negotiated derivatives industry.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Markets
Rethinking P&L attribution for options
A buy-side perspective on how to decompose the P&L of index options is presented
Buy side would welcome more guidance on managing margin calls
FSB report calls for regulators to review existing standards for non-bank liquidity management
Citi halves swaptions book with US retail funds
Counterparty Radar: Mutual funds and ETFs cut exposures by 22% in Q4
Who’s winning the €STR futures race? Depends how you measure
CME, Eurex and Ice all claim to be leading, but experts say it’s too early to pick a winner
CDS review seeks to tackle conflicts ‘elephant’
Isda AGM: Linklaters proposes overhaul for determinations committee - including independent members
Saudi Arabia poised to become clean netting jurisdiction
Isda AGM: Netting regulation awaiting final approvals from regulators
Buy side looks to fill talent gap in yen rates trading
Isda AGM: Japan rate rises spark demand for traders; dealers say inexperience could trigger volatility
JP Morgan’s new way to trade FX overlays
Hybrid execution method allows clients to put dealers in competition via a single trading agreement