Thirteen banks, Icap, DTCC and Euroclear behind planned platform launch
The tech firm at the
heart of a vast project involving thirteen banks, broker Icap
and clearing firms the DTCC and Euroclear to build an industry
utility to allow firms to exchange margin on uncleared swaps
said it plans to launch in May.
Chris Walsh, the chief executive of
AcadiaSoft, a tech firm owned by the diverse consortium, said
the margin platform will be rolled out in the early part of
next year, ahead of rules that require banks to give-up margin
against uncleared swaps in September.
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