The OTC derivatives space is evolving rapidly as regulation comes into effect globally. Firms are facing new clearing and trade
execution requirements, as well as compressed timeframes for achieving confirmation or clearing. While effective dates may differ
by region or asset class, buyside firms are actively seeking solutions that provide comprehensive and consistent approaches to
their complex needs.
Trade Manager offers buyside participants a single platform for addressing electronic confirmation, clearing and electronically
ineligible ('paper') trades. Buyside firms can submit trades and track updates in realtime. Customers can upload trades in Excel
format or via the Client API in a realtime FpML API.
Electronic confirmations (bilateral)
Trade Manager matches client trade details against trades submitted by dealer counterparts. Trades are confirmed automatically
or highlighted as disputes for counterparts to resolve. Electronic matching or submission flows are supported for interest rate,
credit and equity derivatives.
Clients access Trade Manager’s matching and dispute resolution tools to submit trades to over 13 clearinghouses globally across
multiple asset classes. Clients can instruct clearinghouses on specific netting instructions, track clearing acceptance and access
clearinghouse identifiers via Trade Manager’s interfaces.
Electronic Allocation Delivery (EAD)
For allocating clients, Trade Manager delivers fund details for credit, equities and rates derivatives electronically via MarkitSERV
to dealer counterparts' front office systems for bilateral electronically confirmable trades.
Electronically ineligible ('paper') trades
Non-standard OTC derivatives confirmations are processed electronically on Trade Manager, allowing buyside firms to receive, review,
dispute or sign confirmation documents online. Multi-step approval workflow helps firms align with internal controls. OTC derivatives
support includes commodities, credit, equities, FX and rates products.
Trade Manager submits and tracks electronic novations for credit and rates products.
Swap Execution Facility (SEF) trades
As SEF rules come into effect, clients can still receive information and status notifications related to SEF-executed trades via
Trade Manager. Trade Manager links SEF trade details to client submitted trades, delivers allocations on trades cleared at the bunched
order level to clearinghouses and identifies discrepancies between SEF trades and a firm's internal system record.