The International Swaps and Derivatives Association (ISDA) has published a whitepaper calling for greater standardisation and automation of derivatives market infrastructures.
The new paper, The Future of Derivatives Processing and Market Infrastructure, highlights a number of challenges with existing structures and processes, and recommends several steps the derivatives industry can take to create efficiencies – in particular, by embracing opportunities for further standardisation.
"The derivatives industry has become reliant on legacy infrastructures and processes that have been layered on top of each other over time. That might be the result of historical acquisitions, where the respective systems haven't been fully integrated. More recently, the sheer pace of regulatory change has meant firms have been under pressure to tackle the next pressing deadline. The result is a derivatives infrastructure that is duplicative and based on incompatible operating standards, and this isn't sustainable," says Scott O'Malia, CEO of ISDA.
SimCorp says it has enhanced its existing partnership with FX Connect to provide SimCorp Dimension users with full foreign exchange netting capabilities.
SimCorp leverages FX Connect’s cross-currency netting capabilities to enable its clients to block, net and subsequently compress large, multi-currency, multi-value date blotters.
With integration to the order manager module of there firm's Dimension, SimCorp’s clients can access an automated end-to-end FX execution process, which allows them to create operational efficiencies while at the same time reducing trading costs.
Deutsche Borse’s FX trading platform 360T has launched a fully integrated trade confirmation solution in partnership with Bellin, a provider of Web-based treasury software and services.
The solution enables corporate treasuries and banks to automate the exchange and management of deal confirmations for their FX and money market deals via 360T’s Tex trading platform.
An integrated deal export client delivers all trades from 360T´s multibank platform to the confirmation system, in which clients can enter and transmit transaction data to their bank and receive the corresponding bank-side confirmations.
BM&FBovespa is the latest financial services firm to join the R3 partnership that aims to design and apply distributed and shared ledger-inspired technologies to global financial markets.
The exchange group will join over 60 other financial institutions in the consortium, where it will collaborate on research, experimentation, design and engineering to help develop distributed ledger technology that meets the financial and capital markets requirements for identity, privacy, security, scalability, interoperability and integration with legacy systems.
Consortium members work closely with R3 to develop Corda, its shared ledger platform specifically designed to record, manage and synchronise financial agreements between regulated financial institutions.
R3 has established a foothold in China
Cobalt DL says that it
has commenced beta testing with a number of leading FX participants on its
private peer-to-peer network that uses distributed ledger technology in order to
try and reduce post-trade cost and risk.
Andy Coyne, co-founder
rate swap trading platform TrueEx has added Brazilian real (BRL)
interest rate swaps execution with clearing through CME, to its platform.
new offering allows BRL swaps traders to clear, execute new risk, terminate or
compact positions and process ...
Northern Trust has entered an exclusive
partnership with execution services software provider Bex to develop customised FX software, including
components used in Northern Trust’s electronic FX trading platform.
The firms say Bex’s
software “has enabled Northern Trust to ...
The Bombay Stock Exchange (BSE) is now supported by Redline Trading Solutions' market data and order execution gateway solutions.
This enables firms trading on this exchange to receive and act upon real-time price and order book information "faster than ever ...
TraderTools has announced that additional
native Ruble liquidity is now available on its Unique Liquidity Network.
“This Ruble liquidity is in addition to emerging
markets liquidity available from a network of local market making banks in
Eastern European, Turkey, Scandinavia, ...