Orchestrade Taps OTCX Platform For OTC Interest Rate Derivatives

OTCX, a provider of over-the-counter derivatives platform, has created an integrated two-way connection to Orchestrade's core systems to modernize its technology backbone for OTC operations. The partnership allows the price discovery platform for fixed income and money market derivatives to benefit from robust firm-wide controls and processes, as well as improved efficiency through digitization and straight through processing (STP).

OTCX delivers a rapidly deployed cross-asset solution to digitalize OTC derivative processes, especially for interest rate derivatives traded off venue as well as OTC equity derivative and structured products.

Specifically, the integration secures a seamless communication that enables Orchestrade’s clients to move away from trading OTC derivatives via chat, email or voice technology, cutting buy and sell side costs by improving efficiency. OTCX provides solutions that help structure price discovery, negotiation and affirmation communication between counterparties.

OTCX added that its browser-based technology also enables regulatory benefits, including trade reconstruction and compliance with best Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term policies under MiFID II.

Commenting on the news, Nicolas Koechlin, CEO at OTCX, said: “Investors are always looking for ways to improve efficiency in their front and back office processes. Our structured negotiation and price discovery tools, along with the connection to Orchestrade, will provide a solution that is greater than the sum of its parts. We are delighted to be working with one of the leading cross-asset portfolio management platforms in the marketplace today."

Gordon Chan, Orchestrade Vice President of Marketing, added: "Our connection to OTCX will help them bring a full digital solution and greater efficiency to a fragmented and largely manual market. We are laser-focused on keeping our clients agile and innovative, and we share that culture with OTCX. Orchestrade is the most modern, cross-asset, front-to-back trading and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term platform for banks, asset managers and hedge funds in the market.”