Thomson Reuters deploys trade confirmation service at Singapore Stock Exchange, CME Clearing

Thomson Reuters today said that its global trade confirmation service, Thomson Reuters Trade Confirmation, is now connected to Singapore Exchange (SGX) and CME Clearing.

New Thomson Reuters global servicewill help meet regulatory requirements for OTC-traded instruments.

Thomson Reuters's trade confirmation provides financial institutions with matching services  to get legal confirmation of trades and submission of trade details to clearing houses, trade repositories and regulators in real-time.

The service enables institutions to legally match confirmation details and route to multiple CCPs through a single connection, providing complete straight-through processing in preparation for future regulation surrounding the need for centralised clearing for OTC-traded instruments.

The trade confirmation services adds to Thomson Reuters existing post-trade solutions like its trade notification service and Deal Tracker, which  are being used by over 500 institutions across 70 countries world-wide.

Initially focusing on non-deliverable forwards (NDFs) and FX Options, the new service is asset-class, central counterparty and trade repository agnostic. Customers can connect electronically or manually via deal-entry screens to legally confirm and route trades to the central counterparty of their choice. They can also process, monitor and analyse trade status in real-time, meeting compliance needs.

According to Muthukrishnan Ramaswami, president of Singapore Exchange, following SGX's successful launch of central clearing for interest rate derivatives on 15 November, the exchange was expanding its clearing service to Asian FX forwards, using Thomson Reuters trade confirmation.