OSTTRA collaborates with LCH SwapAgent
02 August 2022 UK
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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 鈥� 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鈥檚 workflow tools to help investigate and resolve differences.
Speaking on the announcement, Sheila Schofield, triResolve business management, says: 鈥淗aving all portfolios on OSTTRA triResolve, enabling a straight through process, reduces operational complexity for our customers.
鈥淔irms impacted by uncleared margin rules will also benefit from a streamlined process when managing regulatory initial margin.鈥�
Nathan Ondyak, global head of LCH SwapAgent, adds: 鈥淲e continue to work with OSTTRA triResolve to help our members achieve greater operational efficiencies.
鈥淔acilitating 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.鈥�
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 鈥� 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鈥檚 workflow tools to help investigate and resolve differences.
Speaking on the announcement, Sheila Schofield, triResolve business management, says: 鈥淗aving all portfolios on OSTTRA triResolve, enabling a straight through process, reduces operational complexity for our customers.
鈥淔irms impacted by uncleared margin rules will also benefit from a streamlined process when managing regulatory initial margin.鈥�
Nathan Ondyak, global head of LCH SwapAgent, adds: 鈥淲e continue to work with OSTTRA triResolve to help our members achieve greater operational efficiencies.
鈥淔acilitating 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.鈥�
OSTTRA was formed in 2021 through the combination of MarkitServ, Traiana, TriOptima and Reset.
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