Trade set and match

The ultimate objective of regulators and participants in the derivatives business is to see submission and matching on the date of trade. How far is the industry from reaching this goal? By Ryan Davidson

Matching on the date of trade was once considered an impossible pipe dream for over-the-counter derivatives. Slowly, however, the industry is trundling towards this target. Pushed by regulators since 2005 to improve the infrastructure of the derivatives market, participants have introduced new protocols and documentation to encourage greater standardisation, upped the proportion of business processed electronically, and slashed the number of unconfirmed trades. The endgame is T+0 matching across