Trayport opens new link to LCH.Clearnet for automated clearing
London, 11 November 2011 – Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide now supports realtime STP for OTC Cleared markets available at LCH.Clearnet Ltd. This link is immediately available to allow STP on all existing Trayport Broker Systems for LCH.Clearnet OTC Cleared markets.
“With increasing pressure from regulators to minimise counter party credit risk and mandates forming under Dodd-Frank and EMIR requiring the clearing of OTC trades, Trayport are committed to providing easy access to CCPs for OTC brokers and traders. This strengthens our clients’ positions as the execution venues of choice for OTC Cleared products” said Combie Cryan, Head of Client Services at Trayport.
OTC cleared trading plays an important role in global commodities markets and LCH.Clearnet is at the forefront delivering this. The new clearing link connecting Trayport’s Broker Trading System to LCH.Clearnet’s Clearway continues to improve the OTC Cleared trade workflow by allowing GCM position limits checking to facilitate a single Click-to Clear solution directly from Trayport trading screens to LCH.Clearnet.
Trayport believes that access directly to CCPs for OTC Cleared products is in the direct interest of the marketplace in general, and is committed to supporting this access wherever possible.
We believe introducing this link to clearing workflows allows efficient and timely processing of trades into LCH.Clearnet. The link also eliminates manual input errors and feeds back real time clearing status to brokers, traders and back office systems across the trading eco-system.