T-Zero Integrates With GEM’s FpML Mediator

Source: Wall Street and Technology
URL: http://www.wallstreetandtech.com/blog/archives/2006/12/otc_derivatives.html

Global Electronic Markets (GEM) has integrated the trade comparison component of its FpML Mediator software platform with T-Zero, the service provider in credit derivative processing.

T-Zero has integrated the FpML Mediator trade comparison component with its existing service that is being utilized by numerous buy-side and dealer clients.

This will enable T-Zero’s buy-side clients to perform trading activities such as assignments and early terminations on credit default swap (CDS) trades with the assurance that they are in synch with the trade state maintained by the DTCC’s Deriv/SERV derivative trade confirmation service. For example, when a T-Zero client wishes to perform a transaction on an existing CDS, T-Zero retrieves the deal’s details from DTCC and uses GEM’s FpML Mediator component to compare the client’s version of the trade with the information retrieved from DTCC.