SpectrAxe and OSTTRA have partnered on an end-to-end service aimed at streamlining FX options trading through automation of the entire process.
Patrick Philpott
Specifically, the offering works from price discovery through to execution, booking, and risk management within the FX options market – combining SpectrAxe’s price discovery and execution CLOB with OSTTRA’s post-trade network.
Patrick Philpott, product design lead, FX and securities at OSTTRA, said: “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.”
According to SpectrAxe, it is the first and only electronic CLOB trading platform that facilitates all-to-all trading for OTC FX options.
Through the connection to OSTTRA’s FX trade processing network, traders will receive real-time trade notifications booked directly into their risk systems.
Alvin Chopra, chief operating officer at SpectrAxe, asserted that the partnership with OSTTRA marks a significant milestone for 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.”