Buy-side firms lining up for T-Zero's CDS affirmation service

LONDON – T-Zero, a developer of electronic credit default swap (CDS) affirmation software, reports it has signed more than 100 buy-side and hedge fund clients to its platform as of September.Efforts to automate more processes around credit derivatives trading prompted by operational risk concerns as well as mounting pressure from the Financial Services Authority and the New York Federal Reserve have led many managers to apply the Java-based T-Zero platform either as a stand-alone application