SwapsWire to offer Japanese OTC equity trades
It added that moving from paper contracts and manual processing to electronic confirmation will cut processing cost, processing time and operational risk.
One of the system's users will be BNP Paribas. The bank's Japanese head of equity and derivatives trading, Olaf Kasten, commented: "We use the system extensively for our European OTC equity business and have realised significant operational efficiencies, and virtually eliminated confirmation risk. We are happy to now be able to start using the system in Japan.”
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