Thomson Reuters Launches Global Trade-Confirmation Service

Thomson Reuters Corp. (TRI, TRI.T) boosted its services for over-the-counter derivatives trading Friday with the launch of its global trade-confirmation service and announced that clearinghouses Singapore Exchange and CME Clearing had signed up to its new offering.

The Group of 20 leading economies is aiming to regulate the OTC markets by pushing derivatives trades onto exchanges and requiring them to be cleared.

The trade-confirmation service is designed to provide financial institutions with a "consistent and efficient matching service that enables the legal confirmation of trades and the submission of details to clearinghouses, trade repositories and regulators in real time," Thomson Reuters said in a statement.

The product is being launched before new regulatory rules have been fully decided "to help clients meet regulatory requirements for OTC-traded instruments," it said.

The service is focused initially on nondeliverable forwards and foreign-exchange options but Thomson Reuters stressed that the service is not limited to any one asset class or central counterparty.

-By Jessica Mead, +44 7557 318 951, jessica.mead@dowjones.com

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