OSTTRA and LCH SwapAgent Collaborate to Reconcile Bilateral OTC Trade Data

2 August 2022

LONDON, 2nd August, 2022 – OSTTRA, the global post-trade solutions company, today announced that its market-leading portfolio reconciliation service, OSTTRA triResolve, is actively reconciling data received from LCH SwapAgent, part of London Stock Exchange Group (LSEG).

Building on an existing relationship between OSTTRA and LCH SwapAgent, where trades legally confirmed on OSTTRA MarkitWire are registered into the LCH SwapAgent non-cleared service, this collaboration provides enhanced benefits to customers.

LCH SwapAgent is a service designed to standardise and simplify the valuation and settlement of non-cleared OTC derivatives and is now connected to OSTTRA triResolve to enable the reconciliation of member trade data.

Market participants can authorise SwapAgent to send their data directly to OSTTRA triResolve so that they can reconcile all their holdings versus counterparties in one place – at the required regulatory frequency for total portfolio size. This enables participants to use one coherent reconciliation process that takes advantage of OSTTRA triResolve’s workflow tools to help investigate and resolve differences.

“We are pleased to assist the market with this direct link. Having all portfolios on OSTTRA triResolve, enabling a straight through process, reduces operational complexity for our customers” said Sheila Schofield, triResolve Business Management. “Firms impacted by uncleared margin rules will also benefit from a streamlined process when managing regulatory initial margin” Sheila added.

“We continue to work with OSTTRA triResolve to help our members achieve greater operational efficiencies. Facilitating direct delivery of data for market participants, to enable an easy regulatory reconciliations process, helps to enhance automation and is a major benefit for the non-cleared derivatives marketplace” said Nathan Ondyak, Global Head of LCH SwapAgent.

OSTTRA was formed in 2021 through the combination of MarkitServ, Traiana, TriOptima and Reset, four businesses that have been at the heart of post-trade evolution and innovation for more than 20 years. This integration with SwapAgent reflects OSTTRA’s ongoing commitment to build upon its global network, creating partnerships across the industry to streamline post-trade workflows for financial markets.