Press release - 2 December 2008
Xtrakter®,
the market utility, is pleased to announce the launch of TRAX® V2.9.
TRAX® v2.9 offers clients a host of new capabilities including: netting
and pair off reporting, active and passive confirmation, audit
facilities.
Kevin Milne, Chief Executive, Xtrakter® commented
“TRAX® v2.9 has been developed in conjunction with the TRAX® community
over the last 12 months. The latest version offers users access to a
wide range of new functionality, helping them to further decrease their
operational costs. We aim to continue working with our clients to make
the TRAX system even better and plan to enhance our STP capabilities
going forward into 2009.”
TRAX® is the leading post-trade,
pre-settlement, trade matching & regulatory confirmation system in
use by the OTC market. TRAX® has been operating successfully since 1989
and has over 200 subscribers located globally. TRAX® processes on
average 1.5 million transactions daily.
TRAX® ... more »
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Tuesday, December 2
Netting & pair off delivered with TRAX® v2.9
by
Sean Sprackling
on Tue 02 Dec 2008 20:07 GMT
OTC Derivative Operations in Fund Managment - Conference Notes
by
Sean Sprackling
on Tue 02 Dec 2008 17:29 GMT
Last week I was lucky enough to chair the second day of this event . It was well organised, as Osney events tend to be, and fairly well attended given the current environment. There was also a nice mix of speakers there from the US, Holland, Germany, France and the UK, so here are some highlights:
- Clearly the appetite for otc derivatives has not diminished despite what is happening in the markets - The focus has shifted from the confirmation space to look at risk mitigation in its wider sense ie collateral management, operational risk, legal risk as well as investment risk - Buyers are therefore looking for the killer "solution" - preferably in one system - but this has yet to emerge - New areas to look out for were reconciliation services and compression services - CDS Clearing centrally is almost upon us To me the most interesting ... more »
OFT decides against further analysis of derivatives clearing market
by
Sean Sprackling
on Tue 02 Dec 2008 12:02 GMT
Press releases 2008 - 27 November 2008The OFT has decided not to undertake any work in the market for derivatives clearing, after inviting views earlier this year. The OFT called for submissions on the broader issue of competition in this market in May after it concluded that ICE Clear Europe's regulatory provisions did not have a significantly adverse effect on competition. In reaching its decision, the OFT considered both the submissions it received from interested parties, and recent developments in the market. It concluded that, whilst some potential concerns about the competition effects of vertical integration between derivatives exchanges and clearing the transactions on them were raised, no specific action is required at present because:
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