STP for OTC
Implementing straight-through processing for over-the-counter derivatives is no easy task. Kishore Kumar Ramakrishnan of JP Morgan outlines the challenges involved and makes recommendations for how to tackle them
Innovation appears to be the name of the game in over-the-counter (OTC) derivatives. Given the myriad new products in OTC derivatives markets, it has turned out to be a complex affair minimising the risk of trading and settling such instruments. This, coupled with increased usage of OTC derivatives products, seems to bring about constant shifts in the OTC trading and trade-processing landscape.
Notwithstanding the substantial documentation available on the merits and shortcomings of OTC
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