Hedge fund administrator BISYS Alternative Investment Services has formed a partnership with T-Zero, the credit derivatives platform that provides post-trade affirmation services between brokers and clients active in the credit default swap (CDS) market.
“T-Zero is very excited to be partnering with BISYS in this way,” said Mark Beeston, president of T-Zero. “As a major player in the derivative fund administration space, BISYS is clearly committed to improving the quality of operational processing for their clients, and we are pleased that the T-Zero affirmation process is a key part of that.”
T-Zero aims to ensure that CDS trade details are captured accurately on trade date, to reduce operational and settlement risk, and delivered to counterparts via systems and administrators and networks and vendors such as DTCC Deriv/SERV, GlobeOp, Calypso and Thunderhead, or via a Bloomberg PROFESSIONAL terminal. T-Zero also provides straight-through-processing services for the Creditex and BGC trading platforms.
The goal of the partnership between T-Zero and BISYS Alternative Investment Services is provide a connection between clients, brokers and the BISYS hedge fund administration platform to improve levels of automation.
“In partnering with T-Zero, BISYS again demonstrates its commitment to clients’ trading complex strategies and instruments,” says Mary Lumetta, vice president of BISYS Hedge Fund Services. “We have expanded our STP model to further automate the processing of OTC products. T-Zero provides us with a consistent trade source that allows us to quickly set up and automate the processing of trade files. The integration of T-Zero into our product suite provides better operating controls and proactively addresses issues before they become problems for both us and our clients.”