Volante Technologies, the message company, today announced an agreement with LCH.Clearnet Limited to provide their software for standard message formats used in the clearing of OTC asset classes.
Volante solutions directly address the integration challenges created by centralized market functions, such as swap execution facilities (SEFs), central counterparty clearinghouses (CCPs), and swap derivatives repositories (SDRs). These challenges include not only the rise in messaging volume among counterparties, but also the complications associated with the absence of universal adoption of standards like FIX and FpML and the continued use of proprietary syntaxes. Volante offers the specific development tools needed to address these issues – such as extensive message format libraries, translation software and dashboards to illustrate communication flow – and to improve STP efficiencies, reduce trade failure rates and control risk from cross-market operations.
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