Looking to beat the backlog

Back office

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An unhealthy backlog of unconfirmed trades has forced credit derivatives dealers to spend some time in their neglected back offices. Prompted by fears that serious systemic problems could unfold in the event of a rapid series of corporate defaults, global regulators have begun to monitor dealers' progress with the clean-up and improvement of their trade-confirmation systems and procedures. The Federal Reserve Bank of New York said in February that it was encouraged by improvements made by cr

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