Thomson Reuters has expanded its services for over-the-counter (OTC) derivatives trading, Financial Times reports. The firm has rolled out a new trade confirmation service and has signed up the clearing houses of the Singapore Exchange (SGX) and CME Group as its first customers.
The venture will provide legal confirmation of trades and send details of executed trades to clearing houses, trades repositories and regulators in real-time. The development will allow the SGX to offer clearing services for Asian foreign exchange derivatives.
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