02:32 PM
Risk Newsflashes
Four firms go live with DTCC's credit-default swaps-matching service
Two hedge funds and one institutional investment-management firm participating in the credit-default swap market, are the first buy-side organizations to go live on The Depository Trust & Clearing Corporation's (DTCC) automated credit-default swaps-matching service.
Primus Financial Markets, an institutional portfolio-manager of credit derivatives, went live in December 2003, while hedge funds Moore Capital Management LLC and Citadel Investment Group, went live this month. DTCC says it has already signed up most of the major players on the dealer side of the market, with 17 of the largest dealers worldwide subscribed.