T-Zero®'s primary objective is to reduce operational risk in credit derivative trading by affirmation of trade details as close to the point of execution as possible. After trades are agreed upon by the dealer and buy-side entity, the dealer kicks-off the new trade process by booking the trade into their internal trade capture system. Once the trade has been matched internally between sales and trading, it is electronically communicated to the client via the T-Zero® system. The client is given the opportunity to review all key economic details of the transaction, and respond with an affirmation or rejection. This feature allows for communication of allocations on a timely basis. T-Zero® then communicates trade information to the DTCC Warehouse on behalf of the client, dramatically increasing the confirmation rate.

• Agreement of economics as close to execution as possible - new trade or novation
• Communication of allocations on a timely basis
• Direct routing to DTCC of customer transactions

Benefits: Reduction of Cost | Increased Productivity | Improved Client Services