Afirm offers affirmation or matching as a route to confirmation for wholesale equity derivatives trades and can be accessed through either the Internet or an FpML (Financial products Mark-up Language) enabled solution that is integrated into customers’ proprietary systems. The service is geared towards providing reduced operational risk and enhanced operational efficiency, centreing on rapid confirmation of trades without the requirement for extended manual processes. When used in conjunction with Cscreen, Afirm users will also benefit from greater savings by bridging the manual processes between pre-trade price discovery and post-trade confirmation.
Afirm can either be used as a stand-alone service or in conjunction with Cscreen, the pre-trade price discovery platform acquired by Euronext.liffe in April. Users requiring an on-exchange administration and clearing service will also have access to Bclear, launched on 24 October, a service that offers an innovative, low-cost facility for the booking of wholesale equity derivative transactions.
Euronext.liffe’s Chief Executive, Hugh Freedberg, said: “Afirm is the final element of our fully integrated wholesale equity derivatives service. This service will provide customers with an efficient and cost-effective facility for pre-trade price discovery and for submission to clearing or to the Afirm post-trade matching service, on a straight through processing basis.”
