Whether processing bi-lateral FX trades, or managing the complexities of triparty 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
• 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
• Aggregation of bid and ask groups from high-volume trading activity reduces the cost and risk of booking individual component trades. We support high volumes of FX trades executed on a bi-lateral, triparty and four-way basis, reducing operational risk by aggregating only fully matched trades, with robust monitoring and exception management processes. Our service offers a high degree of configuration to control aggregation criteria for each relationship, and can reduce ticket volumes by up to 99%.
• 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

FX services

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

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

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 three Credit CCPs: ICE Clear Credit, 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

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:

• Connectivity. You get a single connection to all counterparties on Global Exchanges via OSTTRA, via a single integration in your preferred format; OSTTRA manages your counterparties’ format needs. Our symbology database enables STP with various
  identifiers (RIC, Bloomberg, GMI etc.).
• Trade Date/T+zero accurary. Our real-time execution and confirmation matching ensure the right trade is booked in a timely manner on T+zero. Our trade date matching of fees and commissions lightens the operational burden during invoicing.
  • We provide a centralised view across counterparties.
• Allocation Automation. Choose weighted average price allocation support, best fit, APS or pre-set allocation functionality. The OSTTRA-enriched allocation message contains an expanded dataset to enhance give-up accuracy. Advanced allocation notices to FCMs improve give-up acceptance and prevent trade mis-booking to accounts.
• T+ Reconciliation, Margin and Settlement. We enable automated, exception-based reconciliation processes between client and FCM records, and provide an automated margin workflow including seamless settlement connectivity.
• Confirmations. OSTTRA ETD ClientLink provides full transparency of trade status to ensure accurate booking. Our interactive UI and API-driven process streamlines ETD position transfers, increasing transparency and collaboration for all parties and departments.

ETD services

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

From messaging & matching to netting & clearing, OSTTRA’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