Since the meeting between the Federal Reserve Bank of New York and the major swaps dealers in 2005, there has been much success in reducing the confirmation backlog for credit default swaps from original levels. However, recent spikes in trade volume remind market participants that the problem is far from fully resolved.

Clients that have implemented confirmation through an electronic platform have seen:

• Increased trade population confirmed by T+3
• Facilitation of “real” STP for trades, including payment processes
• Reduction of counter-party credit risk exposure

ATI assists clients in participating with one or more of the industry players by offering matching and confirmation workflow tools, which help to reduce operational risk by further automating the OTC derivatives confirmation process.

• Improved Business Processes, Documentation Management and Communication of OTC Derivative Confirmations.
• Connectivity to Industry Matching Utilities, such as DTCC Deriv/SERV and SwapsWire.
• Master Agreement Distribution and Tracking.
• Superior Confirmation Workflow Design.
• Novation Alert and Tracking Facilities
• Workflow Tools for management of confirmation status for all derivative types.
• Real-time Reporting.