Trade Lifecycle
Processing

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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.

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.

Process \ Trade Lifecycle Processing
Process \ Trade Lifecycle Processing

Bringing together an unparalleled network of counterparties, CCPs, trade repositories and custodians, our trade processing services are vital in driving efficiencies and reducing risk across bilateral and triparty post-trade interactions.

 

By standardising workflows, trade and reference data, contract terms and interfaces, we reduce complexity and eliminate duplication throughout the post-trade lifecycle, automating the messaging and matching required to confirm, give-up, allocate, clear and report trades.

Built through decades of partnership across the industry, our trade processing platforms include MarkitWire, TradeServ and Traiana’s Harmony and Clientlink services. Our experts continue to work with customers, partners and regulators to steer the industry through constant evolution and regulatory change.

Explore our Trade Processing Solutions

Affirm broker, dealer or venue submitted trades for onward processing

 

The first step in many OSTTRA trade processing workflows. Trade affirmation is simplified by our centralised platforms, where counterparties can review trades submitted by brokers, dealers or trading venues via a single consolidated user interface.

Acceptance triggers the next step in the post-trade lifecycle, typically trade booking and confirmation, while any discrepancies or disputes are efficiently managed via streamlined workflows between counterparties.

Match trade details for legal confirmation, give up or other confirmation and booking purposes

 

Confirming trade details by matching or affirming counterparty trade submissions is a vital process that sits at the heart of many of our workflows. Legal confirmations are created using standard terms managed by our platforms.

At the same time confirmation of other lifecycle steps such as give-ups, allocations and custodian bookings are also efficiently matched and communicated on our network, ensuring timely confirmations and eliminating trade breaks early in the post trade lifecycle.

Communicate, match and confirm allocations to ensure accurate booking of trades at fund and account level

 

Our comprehensive set of allocation matching, processing and break management services simplify and centralise the allocations process.

Enabling investment management firms to allocate post-trade on either a bilateral basis or via give-ups to multiple Prime Brokers, ensuring accurate booking of fund and account level trading activity.

Manage connectivity and workflow to facilitate dealer and client clearing at global CCPs

 

Our clearing services enable submission of trades across asset classes for central clearing at a wide range of CCPs around the globe. With support for the messaging and workflows required by all clearing participants, including both block and allocation level clearing for dealer-to-dealer and client-to-dealer trading activity.

Our clearing services help you comply with mandatory clearing obligations, reducing settlement risk and costs.

Manage submission of transaction details to Trade Repositiories in order to meet regulatory obligations

 

Trade reporting across multiple regulatory regimes is an integrated part of our trade processing workflow across a number of asset classes.

Using configurable rules and standardised data for each counterparty, our services support the full reporting lifecyle, including UTI generation, trade enrichment, initial submission and lifecycle events.

Benefits of our Trade Lifecycle Processing service

Reach thousands of counterparties, brokers, CCPs, trade repositories and other service providers via our unparalleled post-trade network

Reduce complexity and duplication with standardised workflows, trade and reference data, contract terms and interfaces on our centralised, shared trade processing platforms

Work alongside our experts as we engage and steer the industry through constant regulatory and technical change

Trust our established platforms which process more than 80 million trades a month across OTC and exchange traded derivative markets

Coverage

for Foreign Exchange

Whether processing bi-lateral FX trades, or managing the complexities of tri-party workflows arising from Prime Brokered transactions, our FX Trade Processing services are built on decades of industry collaboration and integration. Highlights include:

  • Prime Brokerage Workflows. OSTTRA Harmony provides the messaging and matching backbone that underpins the FXPB community, enabling efficient give-ups between Prime Brokers, Executing Brokers and their clients
  • Clearing Connectivity is managed via our centralised service that handles the clearing workflow across a wide range of CCPs, with support for dealer-to-dealer and dealer-to-client workflows across all cleared FX instruments
  • Allocation Processing is streamlined on our network that enables the messaging, matching and confirmation of allocations on both a pre and post trade basis, across all trading relationships to ensure the accurate booking of fund and account level trades
  • Trade Affirmations are managed via a single interface that allows banks to accept or reject trades executed across multiple inter-dealer brokers and venues. Acceptance triggers straight through processing direct to downstream systems

 

FX services

for Interest Rate Derivatives

Our central platform for the processing of Interest Rate Derivatives, OSTTRA MarkitWire, has been instrumental to the automation of Rates post trade workflows for more than two decades, processing more than 90% of all Interest Rate Derivative transactions. Highlights include:

  • Trade Affirmation & Confirmation. Affirmation of trades submitted by counterparties is the first step in our Interest Rate Derivative workflow, triggering full legal confirmation based on standard terms and conditions, alongside trade booking via direct integration to risk systems.
  • Clearing Connectivity. Our service facilitates the complete clearing workflow for Rates, with fully integrated connectivity enabling the submission and receipt of trades and events with all major global CCPs
  • Trade Reporting. A seamless part of our trade processing workflow, OSTTRA MarkitWire reports to multiple reporting regimes globally. The service includes UTI generation and covers initial submission as well as lifecycle events, leveraging standardised data and configurable rules
  • Managing lifecycle events. Following initial trade confirmation, OSTTRA MarkitWire handles all lifecycle events, including allocations, novations, terminations and compression

 

Interest Rate
Derivative services

for Repos

Our Repo Trade Processing service automates the post-trade workflow from initial confirmation through the contract lifecycle. Built on our trusted OSTTRA MarkitWire platform, with its established network of 2,000+ firms, our solution centralises and streamlines Repo processing for all market participants. Highlights include:

  • Trade Affirmation. Transactions are submitted by trading venues or dealers for counterparty affirmation. Any exceptions are clearly highlighted to all parties and resolved directly on the platform.
  • Legal Confirmation. Affirmation triggers an automated legal confirmation based on standard terms. Confirmed trades can be booked direct to customer risk systems via API integration.
  • Lifecycle events including allocations, amendments, re-rates and terminations are processed according to an agreed rulebook

 

Repo services

for Credit Derivatives

Our central platform for processing Credit Derivatives, OSTTRA TradeServ handles 99% of all bilateral Credit trades, streamlining the legal confirmation process and automating the trade lifecycle, including submission of trades to DTCC’s Trade Information Warehouse. Highlights include:

  • Legal Confirmation. Submit and match trades with counterparties to achieve full legal confirmation based on standard terms and conditions, with streamlined resolution of disputes in real time
  • Clearing Connectivity. Manage the complete clearing workflow for Credit Derivatives, with fully integrated connectivity enabling the submission and receipt of trades and events with all four Credit CCPs: ICE Clear Credit. ICE Clear Europe, LCH SA and JSCC
  • Trade Reporting. Report Credit Derivative trades in multiple global jurisdictions. The service includes UTI generation and covers initial submission as well as lifecycle events, leveraging standardised data and configurable rules
  • Managing lifecycle events. Following initial trade confirmation, OSTTRA TradeServ handles all lifecycle events, including novations, terminations and compression

 

Credit Derivative
services

for Exchange Traded Derivatives

Our platform for the processing of Exchange Traded Derivatives, OSTTRA ETD ClientLink, has been instrumental in the automation of ETD post-trade workflows for more than a decade, driving the evolution of ETD trading and clearing processes. Highlights include:

  • Notifications. Send and receive fills, drop copies, status messages, allocations and confirmations at every stage of the ETD post-trade workflow.
  • Triparty Messaging. Send and receive the give ups and give ins that enable triparty workflows between executing brokers, clearing brokers and client, providing end-to-end-visibility of each trade.
  • Matching. Identify trade breaks and mismatches on T-zero via our flexible exception-based matching engine that automates reconciliations in real-time.
  • Allocations. OSTTRA ETD ClientLink streamlines and expedites the ETD allocations process, with flexible calculations and real-time communication between clients and brokers.
  • Confirmations. OSTTRA ETD ClientLink provides full transparency of trade status to ensure accurate booking.

 

ETD services

for Equity Derivatives

From trade notifications to give-ups, legal confirmations to trade reporting, our platforms sit at the heart of Equity Derivatives post-trade. Processing bilateral and triparty trade flows, our network streamlines industry workflows, normalising connectivity and achieving trade certainty as early as possible in the trade lifecycle:

  • T-zero Messaging & Matching. OSTTRA ClientLink & Message Center provide the messaging and matching network that underpins the Global Equity Swap community, enabling efficient allocation, confirmation and give-ups between Prime Brokers, Brokers and Investment Managers
  • Clearing Connectivity. OSTTRA CCP Connect facilitates the clearing of OTC equities across interoperable CCPs, with support for Prime Broker to Broker, Prime Broker to Prime Broker and Broker to Broker trade workflows
  • Legal Confirmation. OSTTRA MarkitWire connects participants to provide full legal confirmation based on standard terms and conditions alongside trade booking via direct integration to risk systems
  • Managing Lifecycle events. Following initial trade confirmation, OSTTRA MarkitWire handles all lifecycle events including allocations, increases, terminations, corporate actions and novations

 

Product types supported: Contracts for Difference (CFDs), Portfolio Swaps, Total Return Swaps, Basket Swaps, Options, Variance Swaps, Volatility Swaps, Dividend Swaps, Accumulators.
Instruments supported: Convertible Bonds, Custom Baskets, Futures, Indices, Sectors and Single Names.

Equity Derivative
services

for Cash Equities

From messaging & matching to netting & clearing, OSSTRA’s centralised Cash Equities services play a vital role in reducing operational risks, streamlining workflows and reducing costs associated with the processing of OTC equities. Highlights include:

  • Allocation Processing. Streamlined T-zero processing on our network enables the messaging, matching and confirmation of allocations on a post trade basis, across all trading relationships to ensure the accurate booking of fund and account level trades
  • Trade Affirmation. A centralised service for submission and affirmation of OTC Cash Equity trades provides counterparties with early validation of trade details
  • Clearing Connectivity. OSTTRA CCP Connect facilitates the clearing of OTC equities across interoperable CCPs, with support for Prime Broker to Broker, Prime Broker to Prime Broker and Broker to Broker trade
  • Pre-Settlement Netting. Centralised netting of OTC equity trades via OSTTRA’s Cash PB Service provides increased operational efficiency and a corresponding reduction in settlement volumes and associated costs

Cash Equity services

Included Services

OSTTRA Trade Manager

As part of the Investment Management community, benefit from a consolidated single view of your trading activity across multiple asset classes and workflows. OSTTRA Trade Manager supports the affirmation, ‘matching’ and confirmation of electronic cleared/non-cleared transactions and paper-based or ‘long form’ deals.

Benefit from seamless integration with underlying OSTTRA  platforms including OSTTRA  MarkitWire, OSTTRA TradeServ and OSTTRA  DSMatch.

Multiple connectivity options are supported  including:
1. SFTP location / GUI csv. file upload
2. FPML API submission by MQ channels, Web or VPN.

 

Complex, nonstandard trades continue to be captured and confirmed via long-form paper documents, and while this process offers flexibility and diversity to investors, it creates significant operational cost and risk. Our new paper digitisation module uses AI to adapt to any type of paper transaction, irrespective of length or format. Investment Managers can process the more complex non-standard derivatives transactions alongside their existing electronic trade flow, allowing them to monitor all their OTC trades in one place – OSTTRA Trade Manager. Learn more

Contact our team of Trade Lifecycle Processing experts

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