The world’s largest banks and market infrastructures have teamed up for a new utility aimed to reduce the number of disputes over margin flows for over-the-counter derivatives.
Proquote, the market data provider owned by the London Stock Exchange Group, will be providing full access to its trading functionality through financial information provider FactSet.
Buy-side institutions may face unnecessary costs due to inefficiencies in their handling of over-the-counter derivatives trading, according to a survey conducted by custodian BNY Mellon and research firm InteDelta.