Standards body FIX Trading Community has today announced the formation of a Global Post-Trade Working Group, providing a worldwide forum where business and regulatory challenges in post-trade can be addressed through standards.
As the industry looks to reduce inefficiencies, operational risk and unnecessary costs in post-trade processing, FIX Trading said there has been a drive to increase the use of standards. The new working group is set to address increasing market needs on an international scale and generate recommendations for the global trading industry.
The global group brings together the existing Americas Buy-Side Post-trade Working Group with EMEA Post-Trade Working Group. Members based across the Asian markets have also joined.
It will focus on building on existing FIX guidelines for equities adopted by many buy and sell-side firms, and provide further recommendations for how FIX can be used in post-trade processing across other major asset classes.
The group has divided into four sub-groups: fixed income, equity swaps, foreign exchange and equity options, and it will be jointly chaired by Dave Tolman, from Greenline Financial Technologies, Laura Craft, from Traiana, and David Pearson, from Fidessa Group.