e-Forex July 22

OSTTRA connects MarkitWire and TriResolve
NEWS
OSTTRA has announced new
connectivity between two of its
post-trade services – MarkitWire, the
electronic trade confirmation and
processing platform and triResolve,
the market leader for portfolio
reconciliation, collateral management
and reporting reconciliation.
Through this enhancement, trades
confirmed by MarkitWire can be
seamlessly delivered directly into
triResolve, across a common network
of more than 2,000 firms. This will
drive standardisation of data for
reconciliation, bringing improved
efficiency, cost reduction and greater
transparency between counterparties.
The direct connectivity is live with nine
existing customers, covering interest
rate derivatives and equity derivatives.
It will also include repo transactions
following the go-live of OSTTRA Trade
Processing for Repos in Q3.
The lack of data standardisation
through the post trade lifecycle is
a persistent problem in the OTC
industry, increasing operational cost
and complexity. This is a challenge
OSTTRA is well equipped to address.
The enhanced workflow leverages the
MarkitWire trade ID to link the full
MarkitWire FpML trade representation
with the existing data in triResolve
for customers who opt to switch
on the new link. This information
allows users to quickly remediate
trade breaks identified by triResolve,
making portfolio reconciliation a more
efficient process. The connection will
bring operational alignment between
MarkitWire users and collateral and
reconciliation teams using triResolve,
with minimal input needed and no
additional cost to reap the benefits.
Peter Altero Jr, Head of Rates Business
Development at OSTTRA, added: “The
connectivity between MarkitWire
and triResolve shows that OSTTRA is
focused on accelerating innovation in
post-trade. Our clients will only have
to flick a switch on the MarkitWire
side to see the significant benefits of
enhanced data in triResolve. This is
just the beginning. There is so much
more efficiency to be gained up and
down the post trade stack by having
access to enhanced, standardised
transactional data. Watch this space”.
Peter Altero
Clearstream launches new data-based
solutions for settlements
Clearstream has launched two new
data-based solutions offering insights
into past, present and future of
settlements: the Settlement Dashboard
and the artificial intelligence (AI)-
powered Settlement Prediction Tool.
Market participants are currently
looking to further improve their
settlement efficiency and liquidity
with the Settlement Discipline Regime
(SDR) coming into force this February
as failed settlement transactions result
in financial penalties, operational
overheads and reputational damage.
With Clearstream’s new data solutions,
clients’ operations can leverage these
predictions throughout the day to
gain additional validation and to take
appropriate actions to prevent any
potential settlement fails, thereby
accelerating settlements. Interactive
visualisation provides multiple views,
including a view of critical markets,
asset classes and counterparties. This
allows clients to benchmark their
settlement efficiency against their
peers. Priya Sharma, Head of Data
Priya Sharma
& Connectivity at Clearstream, said:
“We at Clearstream and Deutsche
Börse are convinced of the power of
data. Our predictive and prescriptive
solutions provide insight and
foresight that help our clients make
better decisions that improve their
performance and business growth.
Most failed settlements happen due
to lack of detailed knowledge of
one’s own settlement activities. By
leveraging high-quality predictive
data, we provide our clients with that
knowledge to be best equipped for
regulatory requirements, operational
excellence and settlement efficiency.”
Clearstream clients can use the service
free of charge during the trial period
from July to September 2022.
6 JULY 2022 e-FOREX