Bloomberg provides STP for credit derivatives
Bloomberg has linked up with New York-based technology firm T-Zero to provide its users with an electronic affirmation process for credit default swaps. T-Zero's straight-through processing tool enables users to capture and communicate trade data as well as create an audit trail to ensure trade details are correct.
The move comes amid calls for greater adoption of straight-through processing following efforts by global regulators to improve efficiency in the credit derivatives markets.
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