By their nature, over-the-counter derivatives trades are messy to process, traditionally involving pages of contracts, confirmations and reconciliations, even for vanilla products. With manual methods, banks, brokers and others involved in OTC deals have to book their trades using paper, faxes, emails and phone calls. The costs are high, as are processing failures, leading to operational risk.
That is why a number of banks got together to create SwapsWire – a platform that provides automated c
The week on Risk.net, December 2–8, 2017Receive this by email