Isda guidelines seek to end OTC settlement breaks

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Julian Day, head of trading infrastructure, Isda

The International Swaps and Derivatives Association (Isda) plans to eliminate trade settlement breaks and streamline interest compensation disputes in over-the-counter derivatives transactions, according to two new best practice documents released yesterday.

In its OTC Derivatives Settlements Best Practices, Isda says financial institutions should aim to instigate full straight-through processing of settlements and automatic electronic reconciling of all cashflows before settlement date.

The

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