Sticking point – Feature. Joel Clark looks at the state of play regarding the post-trade processing of credit derivatives on the buy side, and concludes that, although significant recent efforts have been made by vendors and consortiums in this space, tru

In the two years that have passed since the Federal Reserve called in the major dealers and regulators to clear the backlog in unconfirmed credit-default swaps (CDS), significant progress has been made. Companies such as the Depository Trust & Clearing Corporation (DTCC) and Creditex have established new ways to automate back-office processing and prevent further build-up of unconfirmed trades. The vast majority of buy-side firms trading significant volumes of credit derivatives have welcome