London Stock Exchange Group has launched TradeAgent, a post-trade platform designed to replace duplicative processing in OTC derivatives.
Developed in collaboration with a consortium of more than 10 leading banks and buyside firms, it centralises trade and agreement data for equity and interest rate swaps lifecycles, thus driving standardisation and automation across post-trade workflows.
A press release said the platform brings the benefits of cleared workflows to the bilateral derivatives space – enhances accuracy in cashflow calculations, prevents breaks and valuation disputes, and mitigates counterparty and funding risk through centralised margin and settlement services.
Andrew Longmuir, head of Global Markets Operations, Barclays, said: “Efficient and resilient post trade processing is essential to reducing both risk and cost in the bilateral derivatives market. TradeAgent simplifies a complex industry landscape by replacing fragmented confirmation workflows with standardised, automated processes, lowering operational cost, improving accuracy, and driving sustainable efficiency.”
