Three dealers – ABN Amro, JP Morgan and UBS – have uploaded a sample of historical swaps trading data to SwapsWire in London as part of a pilot project for resolving mismatches.The dealers used SwapsWire, the automated confirmation and trade capture service for derivatives trades, to transfer the swaps to the archive. From there, it will be sent to the LCH Clearnet SwapClear service.LCH Clearnet will become the central counterparty to the trades and its research service should allow any mismatches to be resolved. Using the SwapsWire and SwapClear services should also reduce the support required over the trades' lifespans, according to LCH.The dealers plan to load larger portfolios of historical trades in the future if the pilot project proves successful.
More on Technology
Bank technology needs continue to evolve
Data has been a problem for the past two decades for firms in the region
Increasing role of technology is key trend in two decades since launch of Asia Risk
Business strategies must be able to leverage technologies with right attitudes in place, say C-Level panelists.
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.