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 Swapswire
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SwapsWire is an electronic automatic inter-bank confirmation solution using a dedicated electronic communications network. Backed and owned by leading participants in the derivatives market, SwapsWire aims to be the industry standard low cost, automatic confirmation system.
Swapswire covers swaps (OIS & IRS), FRA, options and CDS in the 20 currencies.
SwapsWire delivers:- electronic booking and confirmation,
- operational reconciliation in real-time,
SwapsWire software users can confirm automatically all transactions (swaps, CDS...) accepted by the platform. Each validation process will be separate and private. For every deal they process, users can exchange comments using the built-in chat facility. Swapswire is interfaced with our Front Office systems, thus avoiding any further manual intervention (No paper confirmation, STP between Front Office and Back Office systems, etc...). SwapsWire uses a proprietary protocol, SWML, based on the XML standard.
Participants:
Swapswire is an inter-bank system owned by 22 banks & financial institutions, with Calyon both in the top ten shareholders and member of the Swapswire board.
Facts & Figures:
- The system is available globally, and is used by clients in Asia, Europe and North America.
- Most of the exchanged trades among Swapswire participants are fully verified and legally confirmed on Trade date (The Swapswire deal represents the legal confirmation between two counterparties). The vast majority of these are in fact agreed within minutes of execution.
More information: www.swapswire.com
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