London & New York, March 28, 2008 – T-Zero, the most widely adopted credit derivative affirmation platform, has released its next generation ‘Novations+TM’ processing technology. The new technology is fully integrated with the DTCC Trade Warehouse and directly addresses the new industry commitments announced by the Operations Management Group (OMG).

The launch of Novations+ also comes amid renewed calls from U.S. Treasury Secretary Henry Paulson and from regulators, including the Federal Reserve Bank of New York, for additional scale, automation and standardization in credit derivative processing.

Novations+ functionality enables buy-side and sell-side market participants to achieve 2008 novation targets set by the OMG to submit novation requests via an electronic platform rather than via email. Additionally, the new technology allows the credit derivative industry to scale novation processing by providing system-to-system connectivity, interoperability and automation for even the most complex novation operations involving prime brokers and fund allocations. ...   more »