OSTTRA partners with FIS to optimise ETD post-trade lifecycle
20 November 2024 US
Image: Konstiantyn_Zapylaie/stock.adobe.com
OSTTRA has partnered with FIS to bring transparency to the exchange-traded derivatives (ETD) post-trade lifecycle.
The OSTTRA network of investment management clients will now receive a real-time clearing status from more than 70 global CCPs via FIS Connections, offering transparency into the finality of give-ups and improved exception management capabilities.
FIS aims to provide the broker network with enhanced operational efficiency via the processing of allocation instructions, enriched with OSTTRA order IDs directly into the FIS Cleared Derivatives solution, allowing increased automation and accuracy in middle office give-up and give-in processing.
Through this strategic collaboration, the two firms aim to provide rich data insights, enabling market participants to meet the FIA’s Derivatives Market Institute for Standards 30-30-30 standards for the timeliness of allocations and give-ups in the ETD market.
Joanna Davies, managing director and head of trade processing at OSTTRA, says: “This collaboration underscores the commitment of both firms to drive innovation that brings value to all parties of an ETD trade.
“Together with FIS, we are shaping the future of listed derivatives trade processing, providing new levels of transparency across the ETD post-trade lifecycle.”
The OSTTRA network of investment management clients will now receive a real-time clearing status from more than 70 global CCPs via FIS Connections, offering transparency into the finality of give-ups and improved exception management capabilities.
FIS aims to provide the broker network with enhanced operational efficiency via the processing of allocation instructions, enriched with OSTTRA order IDs directly into the FIS Cleared Derivatives solution, allowing increased automation and accuracy in middle office give-up and give-in processing.
Through this strategic collaboration, the two firms aim to provide rich data insights, enabling market participants to meet the FIA’s Derivatives Market Institute for Standards 30-30-30 standards for the timeliness of allocations and give-ups in the ETD market.
Joanna Davies, managing director and head of trade processing at OSTTRA, says: “This collaboration underscores the commitment of both firms to drive innovation that brings value to all parties of an ETD trade.
“Together with FIS, we are shaping the future of listed derivatives trade processing, providing new levels of transparency across the ETD post-trade lifecycle.”
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