After recently launching its equity option confirmation service in Japan, SwapsWire will extend its service to other Asian markets later this month.
SwapsWire currently supports share, index options and share and index variance swaps in Europe.
Twelve dealers – Barclays Capital, BNP Paribas, Calyon, Citigroup, Credit Suisse, Deutsche Bank, Dresdner Kleinwort Wasserstein, Goldman Sachs, JPMorgan, Merrill Lynch, Societe Generale and UBS – use the service.
“SwapsWire has been a very effective clearing tool for us in Europe and Japan,” says Karen Newton, director and global head of OTC derivative operations at Credit-Suisse in London. “Trades booked over SwapsWire begin as already-confirmed trades in our trade capture systems, so by definition never even hit the outstanding confirmations queue. We are pleased the system is expanding throughout the Asia region, an important market for the equity derivatives product.”
SwapsWire is used by hedge funds, asset managers and financial institutions to confirm, allocate and give-up trades in real time.