Prime time
Credit derivatives prime brokerage platforms are increasingly essential for investment banks, as hedge funds look to minimise the burden of confirming, processing and settling trades with multiple counterparties. Which banks are leading the way? John Ferry reports
Hedge funds have been one of the driving forces behind the growth of the credit derivatives market, which rocketed by nearly 50% in the first six months of last year to reach $12.43 billion, according to figures from the International Swaps and Derivatives Association. But with that growth comes increased back-office and administrative pressures – trades with multiple counterparties need to be confirmed, settled and risk managed.
Staying on top of trade confirmations in a fast-growing
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