FIX Trading Community, the industry standards body, has combined its Americas Buy-side Post-Trade working group with its EMEA Post-Trade working group to form the Global Post-Trade working group. The decision to merge the two existing groups was made in light of the collaboration already taking place between them.
The new group, which will also seek participation from members in the Asian and Japanese markets, will focus on building on the existing guidelines now being adopted by many firms, and provide further recommendations for how FIX can be used for post-trade processing across the major asset classes. It will be jointly chaired by Dave Tolman of Greenline Financial Technologies, Laura Craft of Traiana and David Pearson of Fidessa Group.
As the industry seeks to reduce inefficiencies, operational risk and cost in post-trade processing, there has been a drive to increase the use of standards in this area. These requirements led to the May release of updated guidelines explaining how FIX could be used for equities post-trade processing.
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails