Derivatives dealers meet Fed’s confirmations targets

February 16—Major credit derivatives dealers have met initial targets to clean up operational backlogs in trade processing, the Federal Reserve Bank of New York said today. Fed officials said in a statement that they were “encouraged by the progress made to date.”

Fourteen of the major dealers attended a meeting with regulators to discuss progress in addressing delayed trade confirmations in the credit derivatives market. Today’s meeting follows a meeting in September when Fed officials expr

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