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Approximately 75% of buysiders are unable to process many of the newer and more complicated products such as swaps, swaptions and swap futures, without manual intervention, according to a survey conducted by TABB Group and SimCorp.
"These assets are complicated, they are technologically challenging and a lot of information needs to be sent back and forth. In order to do this you need newer systems to move and organize that. A lot of buyside firms are using systems that are just not capable of doing that," Alexander Tabb, partner and coo at TABB Group, told GlobalCapital.
Tabb noted that a lot of the firms need to manually intervene in the processing of these products; therefore,...