SwapsWire went live last month, with eight dealers confirming their OTC equity options transactions electronically using the platform.

At its launch, 12 institutions had committed to use the system: Barclays, BNP Paribas, Calyon, Citigroup, Credit Suisse First Boston, Deutsche Bank, Dresdner Kleinwort Wasserstein, Goldman Sachs, J.P. Morgan, Merrill Lynch, Societe Generale and UBS.

SwapsWire expects more to join soon. It also reported that Citigroup and Goldman Sachs have used the platform to clear a backlog of executed but unconfirmed credit default swaps (CDS) trades between
themselves.

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