Tullet Prebon Signs Up For T-Zero®'s CDS Processing Services
Dow Jones & Company, Inc. - March 20 2008

Interdealer broker Tullett Prebon will start processing its credit derivative swaps trades through T-Zero®, a derivatives processing firm, in the second quarter of this year. T-Zero® take over once a CDS trade has been agreed between two parties by electronically processing to reduce or eliminate the time-consuming and error-prone manual procedures.

Platforms like T-Zero® ensure that all sides of a CDS trade are aware of the transaction and confirm that it happened without delay. They also alert any other companies that need to know, such as service companies, as well as the DTCC. This reduces mistakes such as making payments that turn out to be wrong, and then need to be investigated.

"T-Zero®'s post-trade capabilities provide important efficiency and transparency in the credit derivatives market," said Paul Humphrey, chief executive of e-Broking at Tullett Prebon

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