J.P. Morgan and Citi collaborate on truePTS post-trade platform
15 December 2017 New York
Image: Shutterstock
J.P. Morgan and Citi are the first two banks to join truePTS鈥檚 automated derivatives processing network.
The platform uses artificial intelligence (AI) to automate office tasks that aims to reduce errors and cut the cost of the administrative.
The system offers solutions such as proprietary matching, validation engines and AI-enhanced voice deal capture.
According to truePTS, manual processing of derivatives is a large source of errors and operational risk.
Some 45 percent of trades were executed off-sef in third quarter 2017, according to ISDA.
Kieran Hanrahan, global head of markets middle office at J.P. Morgan, said: "We look forward to working with truePTS and the other market participants to develop new processing solutions for our clients.鈥�
Zohar Hod, CEO of truePTS, added: 鈥淲e will be the catalyst that provides transparency, increases efficiency and lowers costs for our clients by leveraging the most progressive technology.鈥�
The platform uses artificial intelligence (AI) to automate office tasks that aims to reduce errors and cut the cost of the administrative.
The system offers solutions such as proprietary matching, validation engines and AI-enhanced voice deal capture.
According to truePTS, manual processing of derivatives is a large source of errors and operational risk.
Some 45 percent of trades were executed off-sef in third quarter 2017, according to ISDA.
Kieran Hanrahan, global head of markets middle office at J.P. Morgan, said: "We look forward to working with truePTS and the other market participants to develop new processing solutions for our clients.鈥�
Zohar Hod, CEO of truePTS, added: 鈥淲e will be the catalyst that provides transparency, increases efficiency and lowers costs for our clients by leveraging the most progressive technology.鈥�
← Previous derivatives article
Eurex Clearing to clear Dutch State Treasury Agency interest rate swaps
Eurex Clearing to clear Dutch State Treasury Agency interest rate swaps
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 网爆吃瓜 Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 网爆吃瓜 Finance Times
