TrueEx spin off aims to help buy-side improve swaps processing
TrueEx has announced that it will spin off its post-trade processing services into a separate company called TruePTS. The new firm aims to work with buy-side firms to simplify clearing and reporting of interest rate derivative trades executed on swap execution facilities (Sefs). The move comes as the changing landscape of the fixed income markets is putting asset managers under pressure to address the way they process swaps and other OTC trades and improve collateral optimisation.

Spin-off will offer TrueEx's post-trade services to clients that execute elsewhere

TrueEx is spinning off its post-trade processing services into a separate company.

The new company – called TruePTS – will work with buy-side firms to simplify and automate the process of clearing and reporting derivatives trades executed on swap execution facilities (Sefs).

"The existing process workflow is a spaghetti knot of different processes," says Sunil Hirani, chief executive of TrueEx. "The existing infrastructure in use today was designed and integrated pre-Dodd-Frank, pre-Sef, pre