BizTerm Definition
Electronic Trade Confirmation Project
Full Definition

Is a computerized system for fund managers to execute trade confirmations. The project was started as a response the banks refusing to allow fund managers to join the SWIFT. This situation was reversed in 1992 when fund managers were admitted into SWIFT but the ETC project continues because a SWIFT does not yet do full trade confirmations b the ETC project was already successfully launched c the cost of joining SWIFT is relatively high (in excess of $40,000) as well as the cost of purchasing or developing the necessary SWIFT computer equipment.

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