An article in www.silicon.com reports that IT spending on credit derivative trading systems is set to rise by 45 per cent to almost USD500m this year as banks rush to automate the settlement process and cut the cost of transactions. It goes on to say that the investment in automation is vital for dealing with the rapid increase in credit default swaps (CDS) trades, with many of the world's largest credit derivative dealers struggling with backlogs of unconfirmed trades and high levels of manual mistakes. The report was produced by the US research consultancy Aite Group.
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17 August 2006
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