March 11, 2015
Fully support Bloomberg’s application to offer a confirmation matching service.
Confirmation matching for eligible securities has lacked the necessary innovation to generate industry improvements in securities processing.
As a former Head of Middle Office Operations at two firms and now Chief Operating Officer of Kinetix Trading Solutions, a provider of post trade technology, improving confirmation matching, increasing settlement rates and reducing costs are clearly important goals for individual firms and the industry.
Confirmation matching for eligible securities has been dominated by a single service provider as no other provider could offer this service without SEC approval. In my prior role as Global Head of Middle Office Operations, industry participants approached Bloomberg as well as other service providers and encouraged them to seek approval to offer a competing confirmation service.
An alternative service would foster more competition in confirmation matching and result in the following benefits for the industry:
Paul Puskuldjian
Chief Operating Officer
Kinetix Trading Solutions, Inc.