Crackdown on credit derivatives processing
Regulatory pressure has forced credit derivatives dealers to improve their back-office systems to eliminate delays in confirming trades. Duncan Wood looks at how they are getting on
The back office doesn’t often make it onto the front page, but the Federal Reserve’s aggressive remedy for the pile-up of paperwork in the credit derivatives market has garnered a crop of headlines over the past two months. Slipshod processing had been widely acknowledged as a problem for some time and regulators had been prodding dealers to take action. This approach had begun to deliver some
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