truePTS, the automated trade processing platform for derivatives, has processed its first buy-side trades with J.P. Morgan and Citadel.
truePTS addresses immediate buy-side regulatory compliance requirements and claims to drive down operational costs with a lower-cost, digital alternative to legacy ‘confirmation’ providers.
“This is an exciting development in the post-trade industry,” said Kieran Hanrahan, global head of markets middle office at J.P. Morgan. “Buy-side firms’ participation will be critical to the scalability of the truePTS platform.”
Buy-side firms use the solution for post-trade affirmation and matching as well as to facilitate confirmation and reporting workflows. Integrated into the leading trade repositories, central counterparties, and buy-side platforms, truePTS’ ecosystem facilitates industry collaboration through multi-lateral automation.
New regulatory requirements have shifted responsibilities and fees once paid by the banks to the buy-side,” said Zohar Hod, CEO of truePTS. “We will be the catalyst that provides transparency, mitigation of needed resources, and lower costs for our clients by leveraging the most progressive technology to automate workflows and comply with regulatory change.”
The truePTS matching and validation engine determines an instrument’s eligibility reporting requirements based on liquidity and size, which are continuously updated to support the latest regulatory revisions. truePTS’ AI-enhanced deal capture, auto-affirmation, and direct to clearing workflows also offer benefits for voice trades, lowering costs and risks while increasing operational efficiency.
Its out of the box workflow instantly manages the full life cycle of a trade, handles all aspects of regulatory reporting and integrates third-party services. The company’s interface that supports submitting all new derivative trades to post-trade destinations (clearing, reporting, client risk system). truePTS’ platform also supports reporting trades across all asset classes under multiple jurisdictions.
With electronic execution becoming standard, the need for physical confirmation has been replaced by demand for automated, real-time matching and front-to-back trade flows. truePTS claims its processing environment delivers these features at greater speed and cost effectiveness than traditional systems.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
