Sapient Launches Standard For Cleared OTC Derivatives

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Sapient Global Markets (SGM), a provider of advisory, analytics and technology services, has launched a new industry standard for transmitting data on activities related to cleared OTC derivatives.

The clearing connectivity standard (CCS) is intended to reduce the operational burden on asset managers, futures commission merchants (FCMs) and custodians, and to reduce risk, by replacing the multiple formats used until now.

SGM used input from three custodians—BNY Mellon, State Street and Northern

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