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      SpectrAxe Joins OSTTRA Post-trade Network to Streamline FX Options Trading

      Published: just now

      SpectrAxe x OSTTRA

      SpectrAxe, a central limit order book (CLOB) for over-the-counter (OTC) FX options, has announced a partnership with OSTTRA, a provider of post-trade solutions. The collaboration aims to offer an integrated service for price discovery, execution, booking, and risk management in the FX options market.

      The partnership combines SpectrAxe's CLOB with OSTTRA's post-trade network, allowing for automation of the trading process. This integration is expected to reduce the time required for trade booking from potentially hours to just a few minutes.

       

      SpectrAxe operates as an electronic CLOB trading platform for OTC FX options, enabling various market participants to trade anonymously through their FX prime broker relationships. This approach offers transparency in liquidity for bid/offer quotes and represents a shift from traditional voice- and chat-based execution methods.

       

      The connection to OSTTRA's FX trade processing network will provide traders on SpectrAxe's platform with real-time trade notifications directly into their risk systems. This addresses the need for automating post-trade FX workflows as market participants seek cost reductions and increased transparency. SpectrAxe has implemented FIX protocol integration with OSTTRA to facilitate connectivity.

       

      Alvin Chopra, Chief Operating Officer at SpectrAxe, commented: "Our partnership with OSTTRA marks a significant milestone in the FX options market. By combining our price discovery and execution capabilities with OSTTRA's robust post-trade solutions, we are setting a new standard for efficiency and transparency. This end-to-end service reduces the complexity and time traditionally associated with trade booking and risk management, offering unparalleled benefits to our clients."

       

      Patrick Philpott, Product Design Lead, FX & Securities at OSTTRA, added: "We are thrilled to collaborate with SpectrAxe to bring this groundbreaking solution to the market. Automating the post-trade workflow is crucial for enhancing operational efficiency and reducing risk. Our combined expertise provides market participants with a streamlined, automated process that not only saves time but also significantly reduces the potential for errors."

      The integration of SpectrAxe's CLOB with OSTTRA's post-trade network reflects both companies' efforts to improve efficiency in the FX options market.

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      This content may have been written by a third party. LiquidityFinder makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplies by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
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