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OTCX offers STP for OTC interest rate derivatives with connection to Orchestrade Financial Systems

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OTCX, a digital solution for OTC derivatives price discovery and negotiation, has created an integrated two-way connection to Orchestrade’s core portfolio management and risk systems, moving clients away from voice and chat, and cutting buy and sell side client costs by improving efficiency through digitisation and straight through processing (STP).

OTCX’s fast growing client base, including institutional asset managers, hedge funds, sovereign wealth funds and private banks, will benefit from a two-way certified interface that will deliver uninterrupted STP, and seamless communication and connectivity between two leading providers of innovation in financial systems.

Nicolas Koechlin, CEO at OTCX, says: “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. We are delighted to be working with one of the leading cross-asset portfolio management platforms in the marketplace today.” 

Gordon Chan, Orchestrade Vice President Marketing, says: “Our connection to OTCX will help them bring a full digital solution and greater efficiency to a fragmented and largely manual market. We are laser-focused on keeping our clients agile and innovative and we share that culture with OTCX. Orchestrade is the most modern, cross-asset, front-to-back trading and risk management platform for banks, asset managers and hedge funds in the market.”

Orchestrade is the only institutional-grade, cross-asset capital market platform launched after the financial crisis. It is designed to dramatically reduce IT dependency during implementation and operation by delivering a native, cross-asset, end-to-end solution that is connected to the broader capital market ecosystem out of the box.

OTCX is an independent company that digitises bilateral negotiation and price discovery for Over the Counter (OTC) derivatives, helping prove best execution in vanilla and exotic OTC derivatives trading workflows. The browser-based technology digitises workflow with instant trade reconstruction and a full automated audit trail. OTCX optimises decision making for trading processes with access to all the information necessary to facilitate best execution and assist compliance with regulatory requirements.

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