Automated derivatives processing platform gets Citi and J.P. Morgan on board
14 December 2017 New York
Image: Shutterstock
J.P. Morgan and Citi are set to become the first firms to go live on truePTS, the post-trade processing system for derivatives.
The system is intended to automate derivatives processing, removing the operational risks of manual processes and addressing regulatory and cost pressures in the space, while also improving processing speed.
It offers proprietary matching and validation, plus voice capture using artificial intelligence.
Zohar Hod, CEO of truePTS, said: "We will be the catalyst that provides transparency, increases efficiency and lowers costs for our clients by leveraging the most progressive technology."
He added: “We're able to leverage the industry leaders' strategic input, particularly as we address the challenge of scale with other clients to become the new benchmark in the post-trade processing industry."
Kieran Hanrahan, global head of markets for the middle office at J.P. Morgan, said: "We look forward to working with truePTS and the other market participants to develop new processing solutions for our clients."
The system is intended to automate derivatives processing, removing the operational risks of manual processes and addressing regulatory and cost pressures in the space, while also improving processing speed.
It offers proprietary matching and validation, plus voice capture using artificial intelligence.
Zohar Hod, CEO of truePTS, said: "We will be the catalyst that provides transparency, increases efficiency and lowers costs for our clients by leveraging the most progressive technology."
He added: “We're able to leverage the industry leaders' strategic input, particularly as we address the challenge of scale with other clients to become the new benchmark in the post-trade processing industry."
Kieran Hanrahan, global head of markets for the middle office at J.P. Morgan, said: "We look forward to working with truePTS and the other market participants to develop new processing solutions for our clients."
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