30 October 2008 News

 

Ontario Teachers' Pension Plan using Findur for CDS and derivative STP

One of Canada's largest asset managers, Ontario Teachers' Pension Plan Board, has expanded its use of the Findur platform to now include straight-through- processing for Credit Default Swaps and Commodity Derivatives.

"With the completion of this initiative, these new asset classes join our existing set of live instruments that includes Bonds, Money Market/Repos, Futures, Interest Rate Swaps, Swaptions & Caps/Floors," commented David McGraw, chief financial officer of Teachers'. "These end-to-end trade processing operations are all housed within one central and transparent platform, accessible to more than 130 users across the Fund."

New with this release was the delivery of an integration solution to Markit's End-of-Day CDS spread service and Markit RED, designed to provide significant efficiencies for trade processing and daily pricing. Both integration solutions have been certified by Markit. Future phases will extend the Findur implementation to FX, Loans and Equity Derivatives.

McGraw added, "The addition of Credit Default Swaps and Commodity Derivatives adds to our growing data foundation for critical OTC terms & conditions information. This data has already been leveraged by many parallel initiatives within our organization."