OSTTRA, a powerhouse in the post-trade landscape and the parent of renowned entities like MarkitServ, Traiana, TriOptima, and Reset, has emerged as the winner of the ‘Post-Trade ETD Provider of the Year’ at the prestigious FinanceFeeds Awards.
Operating at the crossroads of processes, networks, and expertise, OSTTRA is dedicated to resolving post-trade challenges across the global financial markets with unparalleled connectivity and robust end-to-end solutions.
The recognition in this award category reflects OSTTRA’s pivotal role in transforming the ETD post-trade infrastructure.
OSTTRA is a 2-year old joint venture, owned 50/50 by IHS Markit (now part of S&P Global) and CME Group. OSTTRA’s leading position is cemented by its constituent businesses, each a pioneer in the evolution of post-trade services for over two and a half decades. MarkitServ, Traiana, TriOptima, and Reset are the bedrocks of innovation that underpin the intricate processes of trade capture, portfolio optimization, clearing, and settlement.
Headquartered in London and led by Co-CEOs Guy Rowcliffe and John Stewart, OSTTRA brings forth unparalleled industry experience and vision to tackle the complexities of modern post-trade challenges.
Quote from Joanna Davies, Managing Director FX & Securities at OSTTRA: “We are truly honored to receive the Post-Trade ETD Provider of the Year award from FinanceFeeds. This recognition stands as a testament to the outstanding dedication and collective efforts of our teams, as well as the unwavering commitment of our valued ETD network participants, who partner with us in our joint ongoing journey of innovation and growth.”
Quote from FinanceFeeds: “As OSTTRA’s achievements continue to shine, their remarkable contributions to the industry’s evolution have not gone unnoticed. Our gratitude goes to OSTTRA and their excellent team of technologists and market specialists for their continued commitment to transforming the ETD post-trade landscape. Their dedication has earned them the well-deserved title of Post-Trade ETD Provider of the Year.”
OSTTRA has made significant strides in addressing long-standing challenges in the ETD post-trade workflow. Collaborating with industry stakeholders, OSTTRA has implemented crucial improvements: Notably, the enhancement of order IDs which has streamlined the give-up process, enhancing efficiency. Additionally, the enrichment of allocation records has reduced the need for manual commission schedule checks, alleviating operational burdens.
OSTTRA’s connectivity with Clearing Houses has yielded two key advantages: Firstly, it enriches trade records by sourcing the Exchange Order ID, strengthening trade visibility. Secondly, direct submission of client allocations to Clearing Houses minimizes delays and offers investment firms real-time insight into their trades’ clearing status across their broker network.
OSTTRA’s pragmatic approach, global network and unrivalled connectivity foster operational efficiency, transparency, and flexibility for buy-side firms, executing brokers and FCMs. OSTTRA’s developments have accelerated the timeline towards the establishment of a groundbreaking industry data standard for the post-trade processing of exchange-traded derivatives (ETDs): Collaborating with members of the Futures Industry Association’s (FIA’s) Derivatives Market Institute for Standards (DMIST), OSTTRA’s contributions have helped drive the identification and agreement of next steps for improved data consistency within the ETD post-trade workflow.
OSTTRA continues to innovate, enhancing their post-trade ETD capabilities by introducing a comprehensive total equity reconciliation solution. This enhancement allows trades booked and confirmed on Trade Date to be seamlessly reconciled, enabling efficient T+1 trade, portfolio, and margin services. This cross-OSTTRA solution allows industry participants to access a streamlined ETD solution across the trade lifecycle.
As OSTTRA keeps on impressing the industry with its accomplishments, winning the FinanceFeeds Award for Post-Trade ETD Provider of the Year shows how dedicated they are to innovation in ETD post-trade. They’re all about being excellent, coming up with new ideas, and making significant changes in the worldwide financial scene.
OSTTRA is a joint venture between S&P Global & CME Group. Headquartered in London, it incorporates pioneers in their field, including CME Group’s optimization businesses –Traiana, TriOptima, and Reset – and IHS Markit’s MarkitSERV:
MarkitServ was instrumental in moving the Interest Rates and Credit communities from paper-based workflows to electronic affirmations and confirmations, while delivering leading FX networks for straight-through processing and clearing.
Traiana created the post-trade infrastructure that underpinned huge growth in Prime Brokerage volumes in FX markets, before expanding across asset classes and building the central limit checking utility that delivers trade certainty in OTC markets.
TriOptima pioneered multilateral portfolio compression, optimising risk and capital allocation for all market participants and creating the leading global network for portfolio reconciliation, analysis and margin management.
Reset has delivered innovative solutions for managing basis risk in trading portfolios for more than 20 years, reducing fixing and strike risk in global portfolios.