OSTTRA and FIS have announced a strategic partnership to enhance transparency and efficiency in the post-trade lifecycle of exchange-traded derivatives (ETDs). By integrating OSTTRA’s investment management network with FIS’s connections to over 70 global central counterparties (CCPs), the collaboration aims to deliver real-time clearing updates, improved exception management, and greater automation for brokers.
The partnership will provide OSTTRA’s investment management clients with real-time visibility into clearing statuses via FIS’s extensive CCP network. This enhanced transparency will help streamline the give-up process and improve overall trade finality, addressing a critical challenge in the ETD market.
FIS will also deliver straight-through processing of allocation instructions enriched with OSTTRA order IDs, integrating directly into its Cleared Derivatives solution. This automation aims to enhance the accuracy and speed of middle-office processing, reducing manual errors and delays in give-up and give-in workflows.
Aligning with industry standards
A significant aspect of the collaboration is its alignment with the FIA’s Derivatives Market Institute for Standards (DMIST) 30-30-30 benchmarks, which emphasise timeliness in allocations and give-ups. By providing richer data insights and supporting standardisation, the partnership aims to drive industry-wide improvements in ETD post-trade processes.
Andres Choussy, EVP group president of FIS Trading and Asset Services, emphasised the collaborative effort’s potential to optimise workflows. “This collaboration reflects our commitment to unlocking greater efficiency and transparency for market participants,” he noted.
