OSTTRA, the global post-trade solutions provider, has formed a strategic collaboration with fintech FIS Global aimed at bringing enhanced transparency to the exchange-traded derivatives (ETD) post-trade lifecycle.
According to a press statement, through the partnership, the OSTTRA network of investment management clients will benefit from receiving a real time clearing status from over 70 global CCPs via FIS Connections, offering greater transparency into the finality of give-ups and improved exception management capabilities.
FIS, meanwhile, will provide the broker network with enhanced operational efficiency via straight through processing of allocation instructions enriched with OSTTRA order IDs directly into the FIS Cleared Derivatives solution, allowing for increased automation and accuracy in middle office give-up/give-in processing.
Through this collaboration, the two firms will provide enhanced data insights, enabling market participants to meet the FIA’s Derivatives Market Institute for Standards (DMIST) 30-30-30 standards for the timeliness of allocations and give-ups in the ETD market. This builds on OSTTRA’s work with DMIST to improve standardisation of ETD post-trade processing.
