OSTTRA is the new brand name to learn as marketplace operator CME Group teams with information provider IHS Markit to launch “a new post-trade services company”. The new joint venture entity incorporates CME’s optimisation businesses (Traiana, TriOptima and Reset) with IHS Markit’s MarkitSERV.
A press release on Wednesday describes the new body as a provider of “progressive post-trade solutions for the global OTC markets across interest rate, FX, equity and credit asset classes”. It will be headquartered in London.
In the words of CME Group chairman/CEO Terry Duffy, the combined product suite “ensures a streamlined post-trade ecosystem”, and is meant to help market participants build a secure and sustainable market infrastructure “as the demands for automation continue to transform the post-trade landscape”.