CCP technical testing in preparation for CCP transition events

Client:  Global financial institution


A global financial institution faced difficulties and challenges testing and validating their OSTTRA MarkitWire development and in assessing downstream reporting impact for CCP transition events, in preparation for the LCH basis swap splitting and LCH Libor transition dress rehearsals. Due to the finite number of dress rehearsals available in UAT, and tight internal timelines, the client required technical sign-off prior to such dress rehearsals.


OSTTRA Solution:

OSTTRA developed and delivered an E2E solution and test harness to simulate CCP transition events with clients, with OSTTRA acting as the CCP and running the CCP transition events on behalf of the client. The client signed up to test and simulate five trades in total. OSTTRA successfully cleared and ran conversions on all five trades, enabling  the client to validate and sign-off on their technical testing.


OSTTRA Delivered:


  • CCP E2E Technical Testing Service – a solution to simulate CCP transition events for client trades
  • Technical consulting package covering:
  • Dedicated support and consultancy over a fixed period
  • Creation of and running the CCP conversions
  • Onboarding and setting up client static for clearing and netting
  • Replaying trades for trade failures and issues on OSTTRA



Customer Benefits


Effective, streamlined, and flexible solution and process to simulate CCP transition events

  • Early technical sign-off ahead of dress rehearsals
  • Validation of E2E workflows and messages in client internal systems
  • Flexibility and ability to replicate technical testing across multiple CCPs
  • Flexible dedicated support and consultancy
  • Cost savings from diagnosing and resolving technical issues ahead of dress rehearsals and go-live


Focused, Tried and Tested


  • A core service from OSTTRA, subject to continuous enhancement and evolution
  • Out of the box test harness and solution, with extended offering and service to other CCP netting events, e.g. CCP compressions
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