Dealers trial swaps archiving

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 to resolve 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.

Alexander Campbell.

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