CME Group and IHS Markit partner together for New Post-Trade Platform

Karthik Subramanian

CME Group, one of the largest derivatives marketplaces in the world, and IHS Markit, an analytics and solutions provider, have combined to form a new joint venture called OSTTRA which will be a post-trade services company.

This company would be owned in a 50:50 ratio by CME and IHS and is proposed to be a post-trade solutions provider for the global OTC market across various segments like FX, equity, and credit assets. OSTTRA will be co-led by the CEO John Stewart and Guy Rowcliffe. Stewart will also function as the COO and would be leading the strategy for the company and oversee the operations and technology growth within the company. He had served as global head of investment banking operations and chief data officer at UBS and brings in a wealth of experience in his field.

“These complementary businesses provide clients with enhanced platforms and services for global OTC markets,” said Terry Duffy, CME Group Chairman, and Chief Executive Officer. “The combined force of the product suite ensures a streamlined post-trade ecosystem that will help clients drive even greater efficiencies. As the demands for automation continue to transform the post-trade landscape, OSTTRA will be at the forefront of helping market participants build a secure and sustainable market infrastructure.”

Rowcliffe was Head of Optimisation Services at CME Group and he will serve as the Chief Commercial Officer as well and would be responsible for the sales and product portfolio of the company.

The company is expected to provide cutting-edge data and settlement operations to a range of businesses and HNIs which would help them in post-trade operations. This is a key area of specialized growth that is being used by many fund management companies as it helps them with reconciliation and risk management. It is very important that the data that these companies have, can be relied upon and for this, the data and solutions provider of post-trade services must be reliable. It is this gap that this new company is seeking to address by tapping on to the infrastructure and services of 2 large companies with vast experience in this field over several years. This company has a lot of potentials to grow on its own as a specialized company

Read this next


SteelEye tries ChatGPT for market surveillance

This capability can be used as a starting point for initiating a surveillance investigation and to standardize workflow processes to boost the throughput and consistency of cases. It is also useful when analyzing communications in foreign languages, as the system returns the above insights in English regardless of the languages being used.

Industry News

SEC charges ex-Morgan Stanley advisor of NBA players after $13m fraud

Darryl Matthew Cohen was arrested this week and is facing three different federal counts of fraud, which could amount to 20 years in prison if convicted, besides the SEC complaint. 

Industry News

AWS FinTech Africa Accelerator launched, applications until April 27, 2023

Founders will be offered tech resources, expert guidance, and a global network of industry leaders, technologists, entrepreneurs, investors, associations, and partners, in order to build their fintech products. 

Industry News

Interactive Brokers pays unmatched interest up to USD 4.33% on cash balances over $10,000

For clients of Interactive Brokers, interest accrues daily, and payments are posted on a monthly basis. Interactive Brokers’ cash management is integrated into client broker accounts, making it simple to earn interest and borrow at the lowest rates without transferring cash.

Retail FX

FP Markets adds cTrader to roster of trading platforms that include MT4, MT5, Iress

“Our market share swings towards the more sophisticated segment of traders and we have been inundated with requests for an additional platform with more institutional-style characteristics. The addition of the cTrader trading platform offering allows our clients the choice to further shape their trading experience with us.”

Digital Assets

SEC mulls lawsuit against Coinbase’s staking and spot trading

Shares in Coinbase fell 15 percent after the US Securities and Exchange Commission threatened a potential enforcement action against the crypto exchange over certain products.

Digital Assets

Kraken halts ACH transactions amid banking crisis

San Francisco-based cryptocurrency exchange Kraken says it will no longer process Automated Clearing House (ACH) following the failure of its payments partner, Silvergate Bank.

Digital Assets

French influencers face two years in jail for promoting crypto products

France’s National Assembly’s Economics Committee voted in favor of a law that bans social media influencers from touting risky financial services, including cryptocurrencies.


Exberry’s Guy Melamed on paradigm shift with cloud-native exchanges at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Guy Melamed about Exberry’s cloud-native exchange SaaS platform certified by AWS to bring about a paradigm shift in the industry at a time of cybersecurity concerns.