WEST PALM BEACH, FL (HEDGECO.NET) – Together with the group of 14 major market participants called together by the Federal Reserve Bank, The Bond Market Association (TBMA) and Managed Funds Association (MFA) today announced that substantial progress has been made in improving the infrastructure that supports the credit derivatives markets. Members of MFA and members of the Asset Managers Division of the Bond Market Association have worked closely with the dealers in an effort to reduce the backlog of outstanding confirmations by over 80% on average since September 30, 2005.
This achievement is part of an ongoing process to improve the overall efficiency of the credit derivatives markets. Accordingly, the Associations will continue to be active participants in the process by working toward the creation and utilization of a central trade information warehouse for credit default swap trades.
The Bond Market Association, with offices in New York, Washington, D.C. and London, represents securities firms, banks and asset managers that underwrite, invest, trade and sell debt securities and other financial products globally.
Managed Funds Association is the primary trade association representing
professionals who specialize in alternative investment strategies including hedge funds, funds of funds, and managed futures funds. MFA, headquartered in Washington, D.C., has over 1,000 members including representatives from the major-ity the 50 largest hedge funds, which manage a significant portion of the over $1.2 tril-lion invested in hedge funds. Since its inception in 1991, MFA has provided industry
leadership in government relations, communications, media relations, and education to MFA members and investors.
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