Trayport, a provider of multi-asset-class electronic trading solutions, has taken a step forward in supporting OTC cleared markets by announcing it is now offering real-time straight through processing from its GlobalVision Broker Trading System to LCH.Clearnet clearing systems for processing transactions.
Regulators have put pressure on the OTC derivatives marketplace to increase transparency and develop clearing processes. According to the Trayport press release: OTC cleared trading is playing an increasingly important role in the European energy markets and LCH.Clearnet is at the forefront of this market model. However, the current process requires brokers and traders to manually enter trades into LCH.Clearnets systems. The new connection direct from GlobalVision to LCH.Clearnets clearing systems automates the OTC Cleared trade workflow. This allows higher volumes of trades to be submitted to LCH.Clearnet in less time while eliminating manual input errors.
Trayport is a subsidiary of GFI Group. Click here to read GFIs EVP Christopher Giancarlo discussion on how inter-dealer brokers would be affected by future OTC regulation.