Risk.net

Brokers combine to tidy the back office

A rare amnesty between competing brokers has led to the development of a deal capture system that, the partners hope, will “bring the back office into the 21st century.”

London-based Icap and TFS have launched energyCheckPoint, a system that automates confirmation between broker and counterparty, as well as keeping trading managers and the back office informed.

The technology, licensed from internet transaction management firm SwapNet, aims to remove the cumbersome and occasionally slow confi