With this announcement, Nordea has become the 31st dealer to automate its trade capture and confirmation using SwapsWire.
The bank says that the system enables its trades to be fully captured and confirmed with its counterparts and brokers a few minutes after execution.
Erik Bo Hansen, Nordea’s head of global fixed income trading, commented, SwapsWire saves our traders time a fully automated interface to the Sungard Adaptiv system updates our online risk and means no need to key in trades by hand. The downstream savings are significant, and our operations managers have the comfort of seeing a big reduction in the number of documents awaiting completion.
SwapsWire, a service owned by a consortium of 21 institutions, captures, verifies and confirms deals on screen within minutes of execution, removing the need for manual processing of paper contracts.
