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  3. OSTTRA Traiana expands OTC LimitHub to support equity clearing
Industry news

OSTTRA Traiana expands OTC LimitHub to support equity clearing


09 December 2021 UK
Reporter: SFT

Generic business image for news article
Image: AdobeStock/denys_kuvaiev
OSTTRA has extended its OTC LimitHub solution to service equity transactions.

The OTC service, based on Traiana, enables general clearing members (GCMs) to apply credit limit and authorisation checks on sponsored members (NCMs) wishing to clear OTC-traded European equities through multiple central counterparties (CCPs).

OSTTRA states that, coming just weeks before the February 2022 deadline for the Central Â鶹´«Ã½ Depository Regulation (CSDR) settlement discipline regime, this service will help users to reduce settlement costs and risks linked to bilateral settlement.

On launching this service with BNP Paribas Â鶹´«Ã½ Services, Joanna Davies, OSTTRA’s head of FX and securities business development, says: “The expansion of our LimitHub service into equities will enable more NCM firms to clear their European market flows via our Equity CCP Connect network, helping them to access the benefits of clearing, especially with CSDR around the corner.â€

Camille Papillard, head of clearing and settlement products at BNP Paribas Â鶹´«Ã½ Services, comments: “The launch of Traiana’s Equity LimitHub service comes at a time when the market is looking to clear more OTC equities flow to benefit from settlement and capital efficiencies, especially in preparation for the CSDR mandate.

“The new limit tool will enable BNP Paribas Â鶹´«Ã½ Services to monitor our extensive NCM broker and swap provider client portfolio to approve their daily trading activity for clearing using our GCM status.â€
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