\ for Regulatory Change
OSTTRA provides a suite of services which help industry participants in South Africa navigate the evolving regulatory landscape – including the transition from the Johannesburg Interbank Average Rate (JIBAR) benchmark to the new alternative risk-free rate (RFR), the South African Rand Overnight Index Average (ZARONIA), and new reconciliation requirements.
Our services have been at the centre of this transformation in the derivative markets.
Trade Processing
OSTTRA MarkitWire provides critical post-trade infrastructure which will help firms manage the shift to the new risk free rate, ZARONIA. Firms can use OSTTRA MarkitWire to:
Portfolio Reconciliation
It is essential to maintain a proactive cashflow reconciliation and in a forward-looking benchmark world, the next coupon payment is known well in advance of its scheduled payment. Falling back to a compounded-in-arrears rate, on the other hand, leaves a very short amount of time to identify booking discrepancies that could lead to payment disputes and fails.
Our unparalleled network is uniquely positioned to assist market participants, proactively detect and resolve potential payment disputes. OSTTRA triResolve sees over 90% of all bilateral OTC derivatives across more than 2,000 groups, ensuring all your counterparties are in one place.
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Complete Margin Management
Easily and efficiently manage your daily margin calls – including bilateral OTC, cleared, repo and ETD – all in one space.
Cash Flow Management
OSTTRA Cash Flow Management helps streamline the cash-flow-processing challenge with a standard workflow and matching engine. With legal confirmations for many bilateral OTC trades readily available on OSTTRA MarkitWire and connected to the OSTTRA triResolve reconciliation engine, participants can have complete confidence that they share a common view of a transaction with their counterparties.
OSTTRA Cash Flow Management also notifies participants if they’re misaligned and can bilaterally net matched cash flows into an agreed, reduced number of payments whilst respecting settlement instructions.
Portfolio Compression
OSTTRA triReduce Benchmark Conversion provides proactive and iterative compression and conversion of legacy JIBAR exposure. Conversion occurs onto the new ZARONIA RFR ahead of CCP conversions, index cessation and fallback implementation.
Through a regular schedule of cleared and uncleared JIBAR runs participants can achieve key milestones towards their benchmark transition goals by multilaterally managing down their legacy exposures and adopting the new RFR.
In addition to compression, the platform provides highly efficient and low-touch multilateral backloading exercises that allow backloading of trades on legacy benchmarks into a clearing or settlement venue, leveraging efficiencies and processes such as CCP conversion events.
Counterparty Risk Optimisation
OSTTRA triBalance participants now receive their risk rebalancing trades referencing RFR benchmarks in all relevant currencies. Ensuring margin & capital optimisation techniques mirror the transactions and exposures they are intended to optimise.
OSTTRA Professional Services
We have developed and delivered effective, streamlined and flexible services to help customers prepare for CCP transition events.
Production Simulation Trades in UAT
Replicate your trades in OSTTRA MarkitWire UAT so you can validate and use the data for CCP transition dress rehearsals, enabling the early identification and diagnosis of issues ahead of the transition.
CCP Simulation Solution
Due to the finite number of CCP dress rehearsals available in UAT and tight internal timelines, customers can face difficulties and challenges testing and validating their OSTTRA MarkitWire development and in assessing downstream reporting impact for CCP transition events. Achieve technical sign-off prior to such events with OSTTRA acting as the CCP and running simulated CCP transition events on your behalf.
Reduce operational risk and cost by lowering gross notional and eliminating line items.
Our processing services sit at the heart of the post-trade lifecycle across OTC and exchange traded derivative markets, standardising and automating workflows across asset classes.
To find out more about our end-to-end post-trade solutions, please share your details with a short message and we will get in touch with you soon.
A member of our team will contact you.
