13 February 2016

C24 broadens connectivity options for derivatives automation

17 December 2012  |  1036 views  |  0 Source: C24

C24 Technologies, a leader in financial services messaging and integration solutions, today announced updates to the C24 OTC Derivatives STP solution, a software product and services framework enabling firms to jumpstart their over-the-counter (OTC) derivatives integration initiatives.

With this release, C24 includes new options for integrating FpML 5.3, MarkitSERV, SWIFTNet Derivatives and a free online C24 Validation Service for testing derivatives messages.

A recent survey from the International Swaps and Derivatives Association (ISDA) highlighted that less than 50% of all derivatives are automated across confirmation through settlement processes. The lack of automation leads to costly errors and increased operational risks. After the financial crisis, governments have imposed sweeping changes for financial firms to increase transparency in their derivatives processes, e.g. clearing swaps through central counterparties and increasing margin requirements. To comply with these changes, firms need to integrate disparate collateral management, risk management, liquidity and trading systems.

The C24 OTC Derivatives STP solution increases derivatives straight-through processing rates by simplifying the task of integrating industry recommended financial standards and internal systems with partner and counterparty applications. The solution provides the software framework for firms to implement the recently announced ISITC market practice for cleared derivatives communications. With higher rates of automation, errors are reduced, there is less ambiguity with counterparties, reports are more reliable, and financial organizations significantly reduce the risk of failed derivatives communications.

The C24 OTC Derivatives STP solution consists of C24 Integration Objects; prebuilt FpML, MarkitSERV and SWIFTNet Derivatives standards libraries; test cases; and derivatives consulting services tailored to the user's specific needs. C24 Integration Objects is a data modelling, meta-data management, transformation and messaging integration toolkit based on Java data binding technology that fully integrates with Spring, ESB, grid, caching and cloud technologies.

"New regulations have become the tipping point forcing financial firms to further automate OTC derivatives processes and incorporate financial messaging standards," said Wayne Meikle, commercial director, C24 Technologies. "C24's solution enhances existing IT messaging investments to address derivatives reform, so firms do not need to perform a costly and time consuming IT infrastructure replacement."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Top topics

Most viewed Most shared
UK sets out open banking API frameworkUK sets out open banking API framework
15735 views comments | 100 tweets | 89 linkedin
Deutsche Bank calls for co-operation with fintech firms on B2B servicesDeutsche Bank calls for co-operation with...
8687 views comments | 29 tweets | 30 linkedin
How to accelerate your fintech startupHow to accelerate your fintech startup
8270 views comments | 35 tweets | 9 linkedin
Is Paym a failure?Is Paym a failure?
6957 views 16 comments | 23 tweets | 16 linkedin
Visa issues API to offer consumer control over card transactionsVisa issues API to offer consumer control...
6388 views comments | 17 tweets | 28 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job