OSTTRA collaborates with LCH SwapAgent
02 August 2022 UK
Image: alotofpeople/stock.adobe.com
OSTTRA, a global post-trade solutions company, will collaborate with LCH SwapAgent to reconcile bilateral over-the-counter (OTC) trade data.
The collaboration will see OSTTRA use its portfolio reconciliation service, OSTTRA triResolve, to actively reconcile data received from LCH SwapAgent, a part of the London Stock Exchange Group.
LCH SwapAgent is a service designed to standardise and simplify the valuation and settlement of non-cleared OTC derivatives.
Market participants can authorise SwapAgent to send their data directly to OSTTRA triResolve to reconcile all their holdings versus counterparties in one place – at the required regulatory frequency for total portfolio size.
OSTTRA says this will enable participants to use one coherent reconciliation process that takes advantage of OSTTRA triResolve’s workflow tools to help investigate and resolve differences.
Speaking on the announcement, Sheila Schofield, triResolve business management, says: “Having all portfolios on OSTTRA triResolve, enabling a straight through process, reduces operational complexity for our customers.
“Firms impacted by uncleared margin rules will also benefit from a streamlined process when managing regulatory initial margin.”
Nathan Ondyak, global head of LCH SwapAgent, adds: “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.”
OSTTRA was formed in 2021 through the combination of MarkitServ, Traiana, TriOptima and Reset.
The collaboration will see OSTTRA use its portfolio reconciliation service, OSTTRA triResolve, to actively reconcile data received from LCH SwapAgent, a part of the London Stock Exchange Group.
LCH SwapAgent is a service designed to standardise and simplify the valuation and settlement of non-cleared OTC derivatives.
Market participants can authorise SwapAgent to send their data directly to OSTTRA triResolve to reconcile all their holdings versus counterparties in one place – at the required regulatory frequency for total portfolio size.
OSTTRA says this will enable participants to use one coherent reconciliation process that takes advantage of OSTTRA triResolve’s workflow tools to help investigate and resolve differences.
Speaking on the announcement, Sheila Schofield, triResolve business management, says: “Having all portfolios on OSTTRA triResolve, enabling a straight through process, reduces operational complexity for our customers.
“Firms impacted by uncleared margin rules will also benefit from a streamlined process when managing regulatory initial margin.”
Nathan Ondyak, global head of LCH SwapAgent, adds: “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.”
OSTTRA was formed in 2021 through the combination of MarkitServ, Traiana, TriOptima and Reset.
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