The Society for Interbank Financial Telecommunication and the International Swaps and Derivatives Association said last week they have developed a new set of electronic message formats for trading interest rate and currency swaps.

Officials said the new messages improve trade confirmations and reduce operational risk in the settlement of swap transactions.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.