CME Group Implements truePTS Processing Efficiencies Into Trade Repositories
Deal will lead to savings in infrastructure and compliance costs.
truePTS, which separated from trueEX in December 2015, is now the first independent derivatives post-trade service to offer a single trade reporting application program interface (API) to meet requirements in the US, the EU, Canada, Singapore, Australia, Hong Kong and Japan, according to a statement from truePTS.
The deal integrates pre- and post-trade submission services, leading to cost savings in infrastructure and compliance expenses for truePTS clients.
"This landmark agreement with CME Group provides an eagerly awaited opportunity to decrease regulatory reporting costs, repairing many of the fractured and inefficient processes of legacy providers," said Sunil Hirani, interim CEO of truePTS, in a statement. "In essence, it's an industry reboot of the reporting process, for the benefit of both regulators and all industry participants."
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