Volante and LCH.Clearnet Sign Integration Deal for OTC Messaging
Volante Technologies has announced an agreement with LCH.Clearnet, to integrate standard messaging formats for over-the-counter (OTC) derivatives clearing.
Volante's software is aimed at easing integration issues between centralized entities in derivatives trading, created by regulatory initiatives. These include Swap Execution Facilities (SEFs) in the US, central counterparty clearing houses (CCPs), and swap derivatives repositories among others. The system architecture also allows for enhanced rates of straight-through and complex event processing.
"We are very pleased to have signed this agreement with Volante Technologies," says Tom Zschach, CIO at LCH.Clearnet. "As financial messaging standards change consistently, it is essential we maintain agility and thought-leadership throughout the industry. It is therefore vital that we are provided with solutions that ensure data quality, improve operational efficiencies and prepare for future developments."
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