Isda moves to automate OTC

The International Swaps and Derivatives Association (Isda) has moved to accelerate the transition to automated over-the-counter derivatives trade processing by publishing a consultative paper on the subject. Isda has called for automated trade verification, legal confirmation and execution capabilities for a range of derivatives products to be installed throughout the industry by June 2005. The association says the move will reduce operational risk and enhance productivity for all parties.

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