24 February 2018
visit www.nextgenbanking.co.uk/

JPMorgan and Citi join truePTS post-trade network

12 December 2017  |  2045 views  |  0 Source: truePTS

truePTS, a New York-based processing ecosystem for the global $700 trillion derivatives market, established a strategic relationship with J.P. Morgan and Citi and to bring choice, innovation and automation to market participants who process derivatives.

The relationship helps truePTS address the regulatory and high cost pressures impacting industry participants by providing innovative technology solutions, such as a proprietary matching and validation engines as well as AI enhanced voice deal capture. These features allow auto-matching and direct clearing, automating the manual processing of derivatives, one of the largest source of errors, revisions, and operational risks (45% of trades were executed OFF-SEF in Q3 of 2017).

“We look forward to working with truePTS and the other market participants to develop new processing solutions for our clients,” said Kieran Hanrahan, Global Head of Markets Middle Office at J.P. Morgan.

truePTS’s ‘no-touch’ processing ecosystem delivers features at greater speed and cost effectiveness than traditional legacy systems, which according to the International Swaps and Derivatives Association “create a continuous and duplicative activity that absorbs a significant amount of operational capacity within firms.…as a result, downstream processes such as collateral management, reporting, and settlement continue to experience processing breaks and mismatches of trade information.”

J.P. Morgan and Citi, are the first two companies to join truePTS, with other industry participants expected to join in the coming months.

“We will be the catalyst that provides transparency, increases efficiency and lowers costs for our clients by leveraging the most progressive technology,” said Zohar Hod, CEO of truePTS. “We’re able to leverage the industry leaders’ strategic input, particularly as we address the challenge of scale with other clients to become the new benchmark in the post-trade processing industry.”

Comments: (0)

Comment on this story (membership required)

Related company news


Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
Register for the webinarVisit www.vasco.comVisit https://www.capgemini.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11847 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10337 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8603 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8124 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7798 views comments | 10 tweets | 14 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job