Delta Capita has launched Elaris OTC, a post-trade platform for over-the-counter (OTC) derivatives designed to tackle the high level of manual processing that still characterises large parts of the market, announces Delta Capita in a press release.
The new service is underpinned by Fragmos Chain’s technology and focuses on the automation of trade matching and lifecycle event management. It uses the Common Domain Model (CDM) to standardise communication between participants, translating firms’ internal messaging formats into a common framework.
Despite its size, estimated at around US$700 trillion by the Bank for International Settlements, the global OTC derivatives market remains partly reliant on manual processing. Around 20 percent of trades are still confirmed and settled without automation. Elaris OTC is Delta Capita’s response to this persistent inefficiency.
Wider connectivity
The platform supports all asset classes and lifecycle events, and its integration with Delta Capita’s managed post-trade services allows institutions to process trades with counterparties even if they are not direct users of the platform. This hybrid approach is aimed at enabling broader adoption without requiring immediate buy-in from the full market.
By combining the new platform with its existing confirmation and settlement operations, Delta Capita is offering an end-to-end service that covers both the digital and human elements of post-trade processing.
Broader strategy
Elaris OTC follows Delta Capita’s ongoing expansion in capital markets services, including its recently announced multi-year agreement with HSBC for global OTC derivatives processing. The firm has been increasing its presence in the post-trade space through acquisitions and service development in recent years.
