OSTTRA Streamlines Trade Reconciliation Through Connectivity Between MarkitWire and triResolve

OSTTRA, the global post-trade solutions company, recently announced new connectivity between two of its post-trade services – MarkitWire, the leading electronic trade confirmation and processing platform and triResolve, the market leader for portfolio reconciliation, collateral management and reporting reconciliation.

Through this enhancement, trades confirmed by MarkitWire can be seamlessly delivered directly into triResolve, across a common network of more than 2,000 firms. This will drive standardisation of data for reconciliation, bringing improved efficiency, cost reduction and greater transparency between counterparties.

The direct connectivity is live with nine existing customers, covering interest rate derivatives and equity derivatives. It will also include repo transactions following the go-live of OSTTRA Trade Processing for Repos in Q3.

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OSTTRA was formed in 2021 through the combination of MarkitServ, Traiana, TriOptima and Reset, four businesses that have been at the heart of post-trade evolution and innovation for more than 20 years. The launch of this link reflects OSTTRA's ongoing commitment to build upon its global network to streamline and standardise post-trade workflows across a broad range of asset classes.

The enhanced workflow leverages the MarkitWire trade ID to link the full MarkitWire FpML trade representation with the existing data in triResolve for customers who opt to switch on the new link. This information allows users to quickly remediate trade breaks identified by triResolve, making portfolio reconciliation a more efficient process.

The connection will bring operational alignment between MarkitWire users and collateral and reconciliation teams using triResolve.