Eurex Clearing connects to OSTTRA’s post-trade network for Exchange Traded Derivatives

Rick Steves

“In the past, volumes would increase as a reaction to significant macroeconomic events. Now, every month, we are consistently seeing volume spikes, thus urgently increasing demand for a real-time solution that provides a window into every aspect of the give up and allocations workflow.”

OSTTRA has announced real-time view into the status of Exchange Traded Derivatives (ETD) trades being cleared through Eurex.

OSTTRA has also worked closely with Eurex on an additional project to enable clients to manage the Next Generation ETD Contracts currently under development by Eurex and scheduled to go live in March 2023.

The post-trade network of close to 200 market participants, OSTTRA ClientLink, provides a comprehensive, adaptive solution that addresses the bottlenecks in processing flows created by more frequent volume spikes.

The Exchange Traded Derivatives (ETD) industry needs greater visibility and efficiency as demonstrated by the ongoing commitment of industry participants to the FIA DMIST standards development, OSTTRA stated.

OSTTRA ClientLink for ETD to welcome more CCPs in 2023

OSTTRA is a joint venture between S&P Global & CME Group whose mission is to strengthen the post-trade infrastructure and ecosystem by offering its solutions MarkitServ, Traiana, TriOptima and Reset.

Eurex Clearing plans to become the second central clearing counterparty (CCP) after the CME to connect to OSTTRA ClientLink for ETD. The enhanced connectivity will enable Eurex to send investment managers booking confirmations for their allocations via OSTTRA ClientLink for ETD, delivering live status updates on which trades have been given up, claimed and cleared – providing trade certainty in fast-moving markets.

After CME and Eurex Clearing, OSTTRA is close to welcoming a third CCP to the network, with more lined up for delivery in 2023.

Melanie Weber, SVP Derivatives Clearing Design, Eurex Clearing, said: “We are pleased to support vendors like OSTTRA to deliver much needed transparency to all parties on the trade. By receiving real-time updates, clients will be able to manage operational risk and capital more effectively throughout the trading day. In parallel to the ETD transformation initiative, OSTTRA and Eurex Clearing are aligned on the Next Generation ETD Contracts, which Eurex is implementing to allow more than one expiration per month under a single product ID, providing clients with additional flexibility.”

Joanna Davies, Head of FX and Securities, OSTTRA, commented: “The ETD industry needs greater visibility and efficiency as demonstrated by the ongoing commitment of industry participants to the FIA DMIST standards development. In the past, volumes would increase as a reaction to significant macroeconomic events. Now, every month, we are consistently seeing volume spikes, thus urgently increasing demand for a real-time solution that provides a window into every aspect of the give up and allocations workflow. The ability to support the entire ETD community with this new flexibility and transparency presents a huge leap in the evolution of both the ETD trade allocation process and the transformation of the ETD workflow.”

  • Read this next

    Institutional FX

    SEC closer to approve 24X’s application for a pioneering 24/7 trading venue

    “Opening the first-ever exchange offering around-the-clock trading in U.S. equities is unprecedented and would create major new opportunities for broker-dealers and their institutional and retail customers around the world. 24 Exchange is excited at the potential for bringing these opportunities to the global market for U.S. equities.”

    Fintech

    Klarna eyes US IPO as valuation targets $20 billion

    Klarna Bank AB, a Swedish fintech and previously Europe’s most highly valued startup, is advancing with plans for a potential U.S. listing, which could become one of the most significant listings of the year.

    Digital Assets

    Shiba Inu Enhances Privacy & Security with New Encryption

    SHIB, the force behind the Shiba Inu cryptocurrency, today introduced Fully Homomorphic Encryption (FHE) into its platform, ensuring unmatched data protection for its users.

    Digital Assets

    Binance Broadens Its VIP Invitation Program for Traditional Asset Traders

    Step Into the Future of Trading: Binance Invites Traditional Asset Traders to Join Its Exclusive VIP Program

    Digital Assets

    Algotech Presale Revolutionizes DeFi Scene, Surpassing $1 Million Raised in Just Weeks

    Emerging Cryptocurrency trading platform Algotech (ALGT) known to be famous with its cutting-edge features. The TradFi platform features advanced algorithms to provide a competitive edge to traders. 

    Fintech

    Revolut enables direct transfers from Singapore to Bangladesh and Kenya

    British fintech firm Revolut has broadened its array of services with the introduction of the “Mobile Wallets” feature in Singapore, facilitating direct money transfers to Bangladesh and Kenya.

    Digital Assets

    SBF claims “zero loss” to FTX customers, 100-year sentence is “grotesque”

    Sam Bankman-Fried, the former FTX CEO who was found guilty of fraud charges last year, is facing his sentencing next month. But before that day arrives, he’s making a plea for what he considers a fair shake.

    Digital Assets

    Bitcoin nears $62,000, sparking retail buying frenzy

    Bitcoin dashed past the $61,000 barrier on Wednesday, a peak it hadn’t touched since the waning days of November 2021.

    Market News

    OPEC+ Extension of Oil Output Cut Causes Rally

    The dynamics surrounding crude oil are indeed fascinating, given its unique role as both a globally traded commodity and a vital energy source deeply influenced by the OPEC+ alliance’s decisions.

    <