The main attraction for a utility model is cost, whereby banks have become increasingly pressured to cut costs as a result of regulation. The report highlights that the finance industry spends between $17 billion and $24 billion per year on core post-trade processing, reference data, reconciliations, trade expense management, client life-cycle management, corporate actions, tax and regulatory reporting. A utility model is being increasingly explored in the derivatives market. In June SunGard went live with a new outsourcing clearing utility for futures and OTC derivatives, with Barclays as its first client. Furthermore a number of banks and market infrastructures have cooperated in the creation of a swaps margin utility. 

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