In the News

OSTTRA Awards

• FX Markets e-FX Best Compression/ Optimisation service for FX
• GlobalCapital Americas Optimisation Service of the Year
• GlobalCapital Optimisation Service of the Year (Asia)
• Euromoney World’s Best FX Post-Trade Solution

Record European currency compression 

By the end of September our CHF, CZK, EUR, GBP, HUF, NOK, PLN and SEK runs had already surpassed the notional compressed for all of 2023, with a year-to-date increase of 57% compared to the same period last year.

Record APAC currency compression

APAC interest rates compression continues to accelerate. By the end of September this year we had already compressed more gross notional than in all of 2023 or 2022, a year-to-date increase of 46% compared to the same period last year.

Record Euro compression at LCH

Our record-breaking year in Euro compression at LCH continues with a 42% increase in compressed notional compared to the same period last year. In our last September run, we successfully compressed EUR 8.2 trillion of notional, delivering significant efficiencies for our customers.

Cross currency compression accelerates

Reaching USD 495 billion notional compressed, the highest in 6 years. 10 currency pairs were involved across EMEA, Americas and APAC and more runs are planned for Q4.

Cleared inflation at LCH

We completed a series of inflation runs at LCH, compressing USD 1.4 trillion gross notional across cleared US, EU and UK inflation. Runs are scheduled in both UK and US inflation in Q4

Colombian Peso compression at CME

Another record – this time it’s Colombian Peso at CME. Increased participation saw over USD 271 billion equivalent compressed, 79% larger than the previous record, driving increased efficiencies for our customers.

Japanese Yen compression

Compression at LCH hit a seven year high with JPY 181 trillion compressed followed by a record run in JSCC, the largest since compression began in JSCC in 2014.

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FX compression

OSTTRA triReduce will be running FX compression cycles throughout Q4.  As notional comes into focus for the year end, clients can compress notional while constraining capital requirements to ensure no spikes.

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Latest patent awarded

Linear Model Partitioner – How we solve large models in OSTTRA triReduce. Allows for efficient and manageable computation of complex optimisation problems.

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In Case You Missed it

Margin & Collateral Solutions 

Easily and efficiently manage your daily margin calls – including bilateral OTC, cleared, repo and ETD – all in one space. Beyond your daily workflow use OSTTRA to optimise margin funding costs.

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Could Repo Compression Work for the Industry?

Derivatives compression at OSTTRA is a global success story: Over the last 25 years, we have reduced the derivatives notional exposure of dealers by trillions of dollars, reducing systemic risk and creating balance sheet savings for participants. But can compression be applied successfully to repo?

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Capital and Risk Optimisation

Interest Rates Initial Margin optimisation

Over the last 18 months, we have seen record interest rates initial margin optimisation results each quarter, culminating in IM savings for participants 107% higher by the end of Q3 this year compared to the same period last year.

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Record SA-CCR optimisation in Q3

We finished Q3 with record SA-CCR savings in our final FX optimisation run of the quarter. Increased participation drove a 59% growth in  SA-CCR optimisation compared to Q3 last year and participants were also able to benefit from IM and IMM savings at the same time.

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New asset classes

• European Power & Gas:
  European Power & Gas optimisation is now live, enabling participants to manage counterparty credit risk and at the same time reduce exchange initial margin.
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• Credit IM Optimisation:
  We’ve successfully completed a number of optimisation runs reducing Initial Margin involving both CCPs (ICE US & LCH SA) and bilateral positions. These primarily address the jump to default charge in the CCPs as well as SIMM. More runs are scheduled – talk to us.
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Rates Counterparty Risk CCP expansion

We are now offering our Rates Counterparty Risk Optimisation runs in LCH, Japan Securities Clearing Corporation and CME. Customers can reduce risk and optimise their capital and funding costs by joining our large and growing global network of participating firms and CCPs.

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Benchmark Conversion

Across our services, OSTTRA is working to ensure a seamless switch to the new reference rates.  As participants focus on reducing exposure to legacy benchmarks, we have seen record compression runs and added additional uncleared cycles to support customers looking to reduce notional ahead of the AANA calculation period.

➜ Benchmark Reform

Canadian Dollar transition

Ahead of the transition to CORRA we completed a record Q1 with CAD compressed over 70% larger than the previous quarterly record.

Mexican Peso transition

As participants focus on reducing exposure to 28D TIIE ahead of the transition to F-TIIE, we completed a record MXN run with over MXN 26 trillion notional compressed, over 43% larger than the previous record.

NEW: Cleared Israeli Shekel compression

We are running the 1st cleared ILS compression run at LCH in November as clients prepare to transition to the new benchmark in 2025.

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Interest Rate Benchmark Cessation Playbook

In preparation for future benchmark cessations, we’ve pulled together the key lessons learned from previous index transitions.