Interwoven, announced the forthcoming availability of Scrittura P2P, intended to be the first financial services solution that processes all forms of post-trade confirmations directly between financial parties (called peer-to-peer processing) without the use of a hosted intermediary.
The technology aims to shrink the current enormous backlogs of post-trade documentation by enabling prompt, accurate processing between all parties involved in these complex investment transactions. The processing complexities of derivatives generated headlines recently when massive multi-billion-dollar backlogs of post-trade documentation drew the concern of the Financial Services Authority (FSA) in the United Kingdom, the Federal Reserve in the United States, and other financial regulators.
While this regulatory attention has led to a heavy focus on credit derivatives, the processing of other complex instruments, for example structured products, has largely been ignored. Scrittura P2P will enable trading messages to contain any data format, removing the restrictions imposed by existing message protocols, and will support both structured and unstructured trade data, as well as any custom messages sent between financial parties.
www.interwoven.com

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