"The addition of CreditTrade to the T-Zero service is a significant step for T-Zero and its bank clients," said T-Zero President Mark Beeston. "T-Zero can now offer banks the advantage of three important processing services in one easy-to-integrate package." These three services are the broker-neutral STP feeds provided by T-Zero on behalf of CreditTrade and Creditex as well as âT-Zero Affirm,â the companyâs operational risk reducing affirmation service.
"Providing STP connectivity to our clients is a core part of our growth strategy," said CreditTrade founder and CEO Paul Ellis. "By providing connectivity via T-Zero, we are making it easier for our bank clients to prioritize their integration work and thus ensure that our execution platform is most efficiently connected from front to back."
Through T-Zeroâs STP service, banks receive an electronic feed of transactions they execute through CreditTrade. These include the highly liquid credit derivative indices (CDX) in which CreditTrade is a market leader in the North American market.
T-Zero has already integrated with numerous platforms, allowing market participants to leverage affirmed and hence accurate trade data in multiple downstream systems. T-Zeroâs âagnostic connectivityâ model allows connection to both downstream operational systems such as DTCC and GlobeOp as well as offering broker-neutral connectivity enabling the straight-through-processing of trades to dealers on behalf of interdealer brokers. The wealth of electronic connectivity and messaging provided by T-Zero directly addresses the major inefficiencies in post-trade derivative processing highlighted by the New York Federal Reserve, the FSA and other regulators over the past year. Since being launched in August 2005, T-Zeroâs post-trade messaging and workflow system has been adopted by numerous major dealers and their clients.