According to a Bank for International Settlements survey, the notional amounts outstanding in over-the-counter (OTC) derivatives markets stood at $690 billion at the end of 2014. The total gross market value of OTC derivatives, meanwhile, stood at $20 trillion at the end of 2013.
Sound like a substantial amount to have to handle manually? Historically, traders and investment banks have done just that, using a mass of people to tackle the regulatory and management issues surrounding OTC derivatives. But now, two companies together are looking to streamline the process.
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