Osttra to launch Treasury clearing middleware
Mid-year delivery expected for system that aids credit checking for repo trades
Post-trade technology firm Osttra has confirmed that it is developing middleware services for US Treasury repo clearing, with a mid-year delivery date ahead of the clearing mandate taking effect in the US.
The firm plans to provide a “centralised limit hub” to support pre- and post-trade credit checks for repo transactions, says Steve French, commercial lead for FX and securities at Osttra.
The service will apply to so-called done-away trades – a model of clearing whereby a dealer sponsors trades
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