Automated processing drive behind T-Zero/BGC alliance, Goldman is first of five users

  • 11 Aug 2006
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T-Zero widened its breadth of alliances this week with an agreement to provide electronic post-trade affirmation and straight-through processing for BGC Partners, the leading broker.

BCG is the new name for Cantor Fitzgerald, which has a high profile in global fixed income, interest rate, FX and derivatives markets.

"We're very excited about this," said Mark Beeston, president of T-Zero. "It underlines the value of what we're bringing to the market and is a great vote of confidence in what we're doing."

The union is the latest in a series of links that T-Zero has forged with Bloomberg, various banks and around 80 buy-side participants.

T-Zero started negotiations with Cantor about four months ago, said Beeston.

Goldman Sachs signed up to T-Zero's affirmation product shortly after the service was launched in July 2005 and has remained one of its principal advocates.

JP Morgan, Deutsche Bank, Lehman Brothers and Royal Bank of Scotland have since come online. Another five major dealers will be using T-Zero shortly, it said this week.

The partnership with BCG underlines the shift of the CDS market to more automated trade processing. The industry has pledged to regulators to make more use of available technology.

Use of T-Zero trade processing equipment allows immediate trade confirmation. The number of unconfirmed trades sloshing around the CDS market has been one of the big concerns of regulators.

  • 11 Aug 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 282,641.19 1046 9.01%
2 JPMorgan 257,395.97 1177 8.20%
3 Bank of America Merrill Lynch 251,828.32 868 8.02%
4 Goldman Sachs 192,523.13 618 6.13%
5 Barclays 184,453.95 705 5.88%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 28,971.26 117 7.00%
2 Deutsche Bank 27,415.35 91 6.62%
3 Bank of America Merrill Lynch 25,509.39 71 6.16%
4 BNP Paribas 21,884.21 122 5.29%
5 Credit Agricole CIB 19,966.59 113 4.82%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,671.74 61 7.86%
2 Citi 12,076.06 76 6.95%
3 Morgan Stanley 11,899.85 66 6.84%
4 UBS 11,800.30 47 6.79%
5 Goldman Sachs 11,111.93 58 6.39%