OTCX offers STP for OTC interest rate derivatives
11 July 2018 London
Image: Shutterstock
OTCX, a digital solution for over-the-counter (OTC) derivatives price discovery and negotiation, has created an integrated two-way connection to Orchestrade's core portfolio management and risk systems.
OTCX said the connection will move clients away from voice and chat, and cuts buy- and sell-side client costs by improving efficiency through digitisation and straight-through-processing (STP).
The company’s client base, which includes institutional asset managers, hedge funds, sovereign wealth funds and private banks, will benefit from a two-way certified interface that will deliver uninterrupted STP, according to OTCX.
OTCX added that its browser-based technology digitises workflow with instant trade reconstruction and a full automated audit trail, optimises decision-making for trading processes with access to all the information necessary to facilitate best execution and assist compliance with regulatory requirements.
Nicolas Koechlin, OTCX CEO, commented: “Investors are always looking for ways to improve efficiency in their front and back office processes. Our structured negotiation and price discovery tools, along with the connection to Orchestrade, will provide a solution that is greater than the sum of its parts."
Gordon Chan, vice president of marketing at Orchestrade, said: "Our connection to OTCX will help them bring a full digital solution and greater efficiency to a fragmented and largely manual market.”
Sean Morgan, chief revenue officer at OTCX, commented: “Digitising and restructuring the market delivers a win-win situation for the three sets of market participants. It is a win for the sell-side, it is a win for the buy-side, and it is a win for the underlying investors.”
OTCX said the connection will move clients away from voice and chat, and cuts buy- and sell-side client costs by improving efficiency through digitisation and straight-through-processing (STP).
The company’s client base, which includes institutional asset managers, hedge funds, sovereign wealth funds and private banks, will benefit from a two-way certified interface that will deliver uninterrupted STP, according to OTCX.
OTCX added that its browser-based technology digitises workflow with instant trade reconstruction and a full automated audit trail, optimises decision-making for trading processes with access to all the information necessary to facilitate best execution and assist compliance with regulatory requirements.
Nicolas Koechlin, OTCX CEO, commented: “Investors are always looking for ways to improve efficiency in their front and back office processes. Our structured negotiation and price discovery tools, along with the connection to Orchestrade, will provide a solution that is greater than the sum of its parts."
Gordon Chan, vice president of marketing at Orchestrade, said: "Our connection to OTCX will help them bring a full digital solution and greater efficiency to a fragmented and largely manual market.”
Sean Morgan, chief revenue officer at OTCX, commented: “Digitising and restructuring the market delivers a win-win situation for the three sets of market participants. It is a win for the sell-side, it is a win for the buy-side, and it is a win for the underlying investors.”
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