AI-enabled post trade derivatives processor signs up J.P. Morgan, Citi

truePTS announced a strategic relationship with J.P. Morgan and Citi for derivatives processing. J.P. Morgan and Citi, are the first two companies to join truePTS, with other industry participants expected to join in the coming months. The relationship helps truePTS address the regulatory and high-cost pressures impacting industry participants by providing technology solutions, such as a proprietary matching and validation engines as well as AI enhanced voice deal capture.  These features allow auto-matching and direct clearing, automating the manual processing of derivatives, one of the largest source of errors, revisions, and operational risks (45% of trades were executed OFF-SEF in Q3 of 2017).

truePTS’s ‘no-touch’ processing ecosystem delivers features at greater speed and cost-effectiveness than traditional legacy systems, which, according to the International Swaps and Derivatives Association, create a continuous and duplicative activity that absorbs a significant amount of operational capacity within firms, and, as a result, downstream processes such as collateral management, reporting, and settlement continue to experience processing breaks and mismatches of trade information.

Read the full release

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