Isda’s O’Malia: back-office costs are ‘killing’ swap dealers

Banks set to begin testing Isda’s common domain model for trade lifecycle processes

Photo of Scott O'Malia
Isda chief executive Scott O'Malia
Gary Cameron/Reuters/PA Images

Antiquated back- and middle-office systems are “killing” profits from derivatives trading, according to the chief executive of the International Swaps and Derivatives Association, which is leading an effort to standardise the industry’s trade lifecycle.

“The legacy systems we have today are killing us from a cost standpoint,” Isda’s Scott O’Malia said at an industry conference earlier today (February 1). “Collateral now needs to move on a T+1 basis on an antiquated system of fax machines, Excel

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: