Brokers link to DTCC
Inter-dealer brokers GFI Group, Tullett Prebon and Icap are collaborating with the Depository Trust & Clearing Corporation (DTCC) to launch a common platform for matching trade terms for over-the-counter credit derivatives.
The platform, which is expected to go live in January, is the latest technology initiative to promote straight-through processing of trades amid heavy regulatory pressure to clean up the process. It will be available initially for single-name credit default swap (CDS)
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