What is wrong with the technology and workflows in the Repo market and how can they be updated to ease compliance with upcoming regulation? First, putting functions like trade confirmation, portfolio reconciliation, and settlement on a central network would remove complexity from the market, writes Peter Altero Jr, Head of Rates Business Development at OSTTRA. These changes would also standardize processes to reduce operational risk and mutualize cost across the industry, Mr. Altero says, explaining that market participants need to get ready for 2023, a year that promises to be one of change.
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