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The booming over-the-counter (OTC) derivatives business is good news for dealers, but it also presents a considerable challenge to those in the back office who have to process the trades. The very qualities that have made OTC derivatives attractive to end-users—the fact that they can be individually negotiated and customized to particular requirements—is what makes them more difficult than standardized exchange-traded products to confirm and settle.
But the operational risks of having burgeoning
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