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Matching of Derivative confirmations – now extended to Commodities Options

Matching of Derivative confirmations – now extended to Commodities Options

17 June 2014

SWIFT is pleased to announce the launch of Commodities Options on Accord – the leading real-time matching service.

Accord’s already extensive coverage of asset types has been expanded to offer matching of Commodities Option Confirmation messages (MT601). This new enhancement allows customers to more easily comply with regulatory requirements, which mandate that Commodities options be confirmed within 1 business day as from August 2014.

Users of Accord benefit from a much more complete offering for Commodities and Precious Metals matching – with not only confirmations, but their corresponding derivative now available to be matched.

Thomas Trepanier, SWIFT’s Head of Global Matching, says: "Globally, appetite for commodities is on the rise. This new functionality addresses a clear customer need, and is part of the ongoing evolution of Accord and our post-trade services"

"The enhanced flow automation now offered by Accord allows us to be compliant with EMIR regulations, to enhance our STP and therefore to increase our matching quality and speed of execution " Adrien De Lima, BNP Paribas.

“This new update to our Accord platform provides customers with a complete, easy-to-implement matching solution for spot & derivative trade confirmations of Commodities, FX, Money Market, and Interest Rate instruments.” explains Thomas.

SWIFT continues to seek further solutions to help clients with the very real challenges of global regulations and the potential risks of late payments and settlement fails.