Cinnober launches cross-asset client clearing solution for banks
Cinnober today announced the launch of a system for businesses offering client clearing services, such as investment banks and FCMs. The new system TRADExpress Client Clearing addresses the challenges faced by the clearing industry as it is heavily impacted by regulatory reforms following the G20 mandate for central clearing of OTC derivatives, as well as Basel III. Profit margins in prime services are squeezed by diminishing OTC trading, among other things, and the need for automation and efficient work flows increase as swaps are