Thursday, April 29, 2010

TriOptima makes interest rate swap data public

Original posted in the FT by Jeremy Grant:

TriOptima, a European securities post-trade company, has made data showing details of interest rate swaps contracts publicly available for the first time.

The move, announced on Wednesday, is a sign that regulators’ demands for more transparency in the over-the-counter derivatives markets are being met by industry participants even before legislation designed to reform OTC market structures has been finalised.

TriOptima is one of a handful of companies in the world that operate “trade repositories”, which store electronic records of thousands of OTC trades previously logged manually.

It and other trade repositories have already provided details of OTC trades to regulators. But the latest move is the first time such data have been made available to the public.

The company, controlled by Icap, the interdealer broker, said it had “posted the first public reports for the OTC derivatives interest rate swap market” on its website.

David Halliden, chairman of the interest rate trade reporting repository, a service run by TriOptima, and an executive director at JPMorgan, said: “This is an important step in the industry’s continued efforts to provide additional transparency in the OTC derivatives marketplace.”

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