New Jersey-based Thomson TradeWeb has signed an agreement with UK electronic confirmation service SwapsWire that it hopes will speed up deal processing and cut risk for its customers.Interest rate derivative trades on TradeWeb will now be confirmed through SwapsWire, which will be accessible through the TradeWeb viewer, Thomson said.
The company added that its customers had been calling for faster processing and reduced operational risk. "The need to advance post-trade processing is critical and this interface ensures we will be able to meet market expectations”, said Lee Olesky, president of Thomson TradeWeb.
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