15 December 2017
New York
Reporter: Zsuzsa Szabo

J.P. Morgan and Citi collaborate on truePTS post-trade platform

J.P. Morgan and Citi are the first two banks to join truePTS’s 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.”

Zohar Hod, CEO of truePTS, added: “We will be the catalyst that provides transparency, increases efficiency and lowers costs for our clients by leveraging the most progressive technology.”

More news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
IHS Markit names Stuart Cornock as associate sales director
22 January 2018 | London | Reporter: Zsuzsa Szabo
Cornock has moved from Clearstream to IHS Markit
New York Fed confirms repo rate complaints
22 January 2018 | New York | Reporter: Zsuzsa Szabo
An audit of the Federal Reserve Bank of New York uncovered that the effective federal funds rate and overnight bank funding rate are in compliance with principles for financial benchmarks
James Burron has left AIMA
22 January 2018 | Toronto | Reporter: Jenna Lomax
James Burron has left the Alternative Investment Management Association
Hong Kong securities and derivatives markets break records in 2017
19 January 2018 | Hong Kong | Reporter: Jenna Lomax
Market capitalisation of Hong Kong’s securities market reached over $33 billion, while in the derivatives market total options trading reached over 137 thousand contracts
ESMA updates MiFID II transparency calculations
19 January 2018 | Paris | Reporter: Zsuzsa Szabo
ESMA has revised its transitional transparency calculations for equity and bond instruments reported under MiFID II
S&P reaffirms OCC’s AA+ rating
19 January 2018 | Chicago | Reporter: Jenna Lomax
S&P has reaffirmed OCC’s financial strength rating of “AA+/stable”
Clearstream to include Kazakh government bonds
19 January 2018 | Astana | Reporter: Zsuzsa Szabo
Kazakhstan treasury bonds are to be available through Clearstream