Interdealer broker CreditTrade has joined the T-Zero credit derivatives trade processing service. CreditTrade is the latest addition to the platform and joins numerous banks, buyside participants and downstream operations service providers such as DTCC and GlobeOp that are connected to T-Zero.
T-Zero says it offers “agnostic connectivity” and the benefits of accurate trade capture to all market participants, including interdealer brokers, dealers, buyside firms, prime brokers and service providers.
“The addition of CreditTrade to the T-Zero service is a significant step for T-Zero and its bank clients,” says T-Zero President Mark Beeston. “T-Zero can now offer banks the advantage of three important processing services in one easy-to-integrate package.”
These three services are the broker-neutral STP feeds provided by T-Zero on behalf of CreditTrade and Creditex as well as “T-Zero Affirm,” the company’s operational risk reducing affirmation service.
“Providing STP connectivity to our clients is a core part of our growth strategy,” adds CreditTrade founder and CEO Paul Ellis. “By providing connectivity via T-Zero, we are making it easier for our bank clients to prioritize their integration work and thus ensure that our execution platform is most efficiently connected from front to back.”
Through T-Zero’s STP service, banks receive an electronic feed of transactions they execute through CreditTrade. These include the highly liquid credit derivative indices (CDX) in which CreditTrade is a market leader in the North American market.