"It is imperative that the market rethinks its approach to post-trade services. The mismatch between execution capability and post trade services is dangerously wide and accelerating."

The report focuses on the solutions to the challenges that all participants in global markets will need to address. A summary of the main points of the paper:

* A combination of

- dramatic volume growth and even faster growth in the numbers of
tickets and messages;
- increasing product complexity;
- rising operational costs; and
- increased focus on operational risk management

has placed the post-trade services environment both for OTC and exchange-traded products under the spotlight as never before.

* The wholesale OTC markets face a growing crisis in trade processing as the growing volumes and faster rising ticket counts, combined with the complexity of trades raise significant cost, scalability and risk issues.

* Transaction processing costs the industry over USD5bn annually for fixed income OTC products.

* If the OTC markets are to move much further towards the levels of efficiency and scalability that exchanges can offer it seems to us that they will also need to move more towards a central credit-netting, facilitation and clearing model for settlement.

Please click here to view the full report " Confirm early to beat the crush. An anaysis of cross-product post-trade services for global markets"