Non-standard products often behind confirmation delays in OTC derivatives


NEW YORK -- The main reason for delays in the confirmation of over-the-counter (OTC) derivatives deals is that the product is non-standard or else the back office is awaiting data or approval from traders or marketers.

That was one of the findings of the latest survey by the International Swaps and Derivatives Association (Isda) of operational practices for OTC derivatives contracts, such as forwards, swaps and options, that are used to manage the risks created by price volatility in financia