Creditex invests in Trade Settlement Inc.
Finextra.com - May 15, 2007
Derivatives trading platform Creditex has acquired an undisclosed minority stake in Trade Settlement Incorporated (TSI),
a privately-held provider of settlement services to the primary and secondary syndicated loan markets in the US. Financial
terms of the deal were not disclosed. Creditex says the investment is a move to capitalise on the anticipated growth in loan-only
credit default swaps (LCDS). The partnership will bring together T-Zero®'s affirmation platform with TSI's settlement services.
Creditex says the two firms will work together to provide an integrated system for accurate trade capture, straight-through-processing
(STP) and settlement of loan credit derivatives.
