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About OSTTRA

OSTTRA, a post-trade services company, is a provider of progressive post-trade solutions for the global OTC markets across interest rate, FX, equity, and credit asset classes. It incorporates CME Group’s optimization businesses –Traiana, TriOptima, and Reset – and IHS Markit’s MarkitSERV.

OSTTRA Headquarter Location

London Fruit & Wool Exchange 1 Duval Square

London, England, E1 6PW,

United Kingdom

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Latest OSTTRA News

S&P Global : and IHS Markit Proforma Combined Company Operating Results by Segment - Form 8-K

Feb 28, 2022

04:29p 02/28/2022 | 04:59pm EST Message : Operating Results by Segment (dollars in millions, except per share data) (unaudited) $539 454 55 (40) $166 85 25 (19) $681 217 16 $129 59 5 $325 (29) $121 (12) 28 $191 14 $122 (28) $21 (15) (4) IHS Markit equity in (profit) loss on equity-method investees, net of tax $(15) $(86) (42) $2,016 (112) $3,022 $1,081 244 (15) (65) $1,279 $1,279 55 1,199 237 20 (5) (54) 1 $895 Previously Reported S&P Global Diluted Weighted Average Shares Outstanding 241.6 400.7 355.3 $ S&P Global Operating Results by Segment (dollars in millions, except per share data) (unaudited) $ 403 51 (39) $ 66 30 (18) $ 224 15 $ 49 4 $ (25) $ (19) 28 $ 14 $123 (28) $21 (13) (4) IHS Markit equity in (profit) loss on equity-method investees, net of tax $ $ (61) $ (109) $2,726 $ 147 (16) (59) $1,020 $1,020 60 894 179 (39) (5) (50) 1 $710 Previously Reported S&P Global Diluted Weighted Average Shares Outstanding 243.3 402.9 357.6 $ Note - Totals may not sum due to rounding (a) Refer to Exhibit 2 for a reconciliation of IHS Markit's previously reported results conformed to S&P Global's presentation of adjusted operating results. (b) To reflect the transfer of IHS Markit's Maritime & Trade business to the Market Intelligence segment from the Mobility segment and the transfer of the Economics and Country Risk business to the Market Intelligence segment from the Engineering Solutions segment. (c) To reflect the transfer of both the Market Intelligence Commodities business and IHS Markit's Environmental Solutions business to the Commodity Insights segment from the Market Intelligence segment and the transfer of IHS Markit's index services business, Equity Custom Baskets ("ECB"), Halifax House Price Index to the Indices segment from the Market Intelligence segment. (d) Proforma adjustment to eliminate S&P Global and IHS Markit's divested businesses from the historical segment financial information. S&P Global's divestitures include CUSIP Global Services and its Leveraged Commentary and Data ("LCD") business while the IHS Markit's divestiture includes the Life Sciences business. (e) Q4 2021 and full year 2021 adjustments include employee severance charges of $3 million, acquisition-related costs of $2 million and lease-related costs of $1 million. Q4 2021 and full year 2021 are adjusted for a gain on disposition of $1 million and $3 million, respectively. Q1, Q4 and full year 2020 include adjustments for employee severance charges of $2 million, $26 million and $27 million, respectively. Q1, Q2, Q3 and full year 2020 include adjustments for gains on dispositions of $7 million, $2 million, $4 million and $12 million, respectively. Q4 and full year 2020 include adjustments for lease-related costs of $3 million. 2021 quarterly and full year are adjusted for amortization of intangibles from acquisitions of $16 million and $65 million, respectively. 2020 quarterly and full year are adjusted for amortization of intangibles from acquisitions were $19 million, $20 million, $19 million, $17 million and $76 million, respectively. (f) Adjustment to reallocate the combined central support costs of S&P Global and IHS Markit, which primarily include shared services costs, IT costs and certain corporate costs using S&P Global's historic allocation methodology to reflect a consistent approach to allocate shared costs to the segments. (g) Q4 2021 and full year 2021 adjustments include a gain on disposition of $6 million, recovery of lease-related costs of $4 million and employee severance charges of $3 million. Q3, Q4 and full year 2020 adjustments include technology-related impairment charge of $5 million, $5 million and $11 million, respectively. Q4 2020 and full year 2020 adjustments include lease-related costs of $5 million and employee severance charges of $4 million. 2021 quarterly and full year are adjusted for amortization of intangibles from acquisitions of $5 million, $2 million, $2 million, $2 million, and $10 million, respectively. 2020 Q2, Q3, Q4 and full year are adjusted for amortization of intangibles from acquisitions of $2 million, $3 million, $2 million and $7 million, respectively. (h) To reflect the transfer of both the Market Intelligence Commodities business and IHS Markit's Environmental Solutions business to the Commodity Insights segment from the Market Intelligence segment. (i) Proforma adjustment to eliminate IHS Markit's divested businesses from the historical segment financial information. IHS Markit's divestitures include PetroChem Wire businesses ("OPIS") and its base chemicals business. (j) Q4 2021 and full year 2021 adjustments include recovery of lease-related costs of $2 million. Q4 2020 and full year 2020 adjustments include employee severance charges of $11 million and lease-related costs of $2 million. 2021 quarterly and full year are adjusted for amortization of intangibles from acquisitions of $2 million and $8 million, respectively. 2020 quarterly and full year are adjusted for amortization of intangibles from acquisitions of $2 million and $9 million, respectively. (k) To reflect the transfer of IHS Markit's Maritime & Trade business to the Market Intelligence segment from the Mobility segment and the transfer of IHS Markit's Haystack business to the Engineering Solutions segment from the Mobility segment. (l) To reflect the transfer of IHS Markit's index services business, ECB, Halifax House Price Index, and other expenses to the Indices segment from the Market Intelligence segment. (m) Proforma adjustment to eliminate S&P Global's divested businesses from the historical segment financial information. S&P Global's divestiture includes a family of leveraged loan indices. (n) Q4 2021 and full year 2021 adjustments include recovery of lease-related costs of $1 million. Q4 2020 and full year 2020 adjustments include employee severance charges of $5 million, a lease impairment charge of $4 million, a technology-related impairment of $2 million and lease-related costs of $1 million. 2021 quarterly and full year are adjusted for amortization of intangibles from acquisitions of $1 million and $6 million, respectively. 2020 quarterly and full year are adjusted for amortization of intangibles from acquisitions of $1 million and $6 million, respectively. (o) To reflect the transfer of IHS Markit's Haystack business to the Engineering Solutions segment from the Mobility segment. (p) To reflect the transfer of Economics and Country Risk business to the Market Intelligence segment from the Engineering Solutions segment. (q) Proforma adjustment to eliminate IHS Markit's divested businesses from the historical segment financial information IHS Markit's divestitures include its RootMetrics business. (r) To reflect the transfer of IHS Markit's Environmental Solutions business to the Commodity Insights segment from the Market Intelligence segment and the transfer of IHS Markit's index services business, ECB, Halifax House Price Index, and associated expenses to the Indices segment from the Market Intelligence segment. (s) Q1 2021 and full year 2021 adjustments include Kensho retention related costs of $2 million. Q2 and full year 2021 adjustments include a lease impairment charge of $3 million. Q3 2021 and full year 2021 adjustments include a gain on disposition of $3 million and $2 million, respectively. Q1, Q2, Q3, Q4 and full year 2021 adjustments include IHS Markit merger costs of $49 million, $50 million, $54 million, $96 million and $249 million, respectively. Q4 2021 and full year 2021 adjustments include employee severance charges of $13 million, lease-related costs of $4 million and acquisition-related costs of $2 million. 2020 quarterly and full year adjustments include Kensho retention-related costs of $5 million, $2 million, $2 million, $2 million and $12 million, respectively. Q1, Q2, Q4, and full year 2020 adjustments include employee severance charges of $7 million, $3 million, $9 million and $19 million, respectively. Q3 2020 and full year 2020 includes an adjustment for a gain on disposition of $4 million. Q4 2020 and full year 2020 include adjustments for lease impairment charges of $116 million. 2021 full year is adjusted for amortization of intangibles from acquisitions were $7 million. 2020 quarterly and full year are adjusted for amortization of intangibles from acquisitions were $7 million and $26 million, respectively. (t) Q2 2020 and full year 2020 adjustments include a pension related charge of $3 million. (u) Q3 2020 and full year 2020 adjustments include a loss on the extinguishment of debt of $279 million. (v) Q2, Q4 and full year 2021 adjustments include $5 million, $2 million and $7 million, respectively, of tax expense associated with the re-valuation of deferred tax liabilities related to a UK income tax rate change. Q3 2021 and full year 2021 adjustments include $7 million of tax benefit on a loss on the extinguishment of debt in the prior year. Q4 2021 and full year 2021 adjustments include $1 million of tax benefit related to prior year divestitures. Q4 2020 and full year 2020 adjustments include $4 million of tax benefit related to prior year divestitures. (w) Adjusted to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (x) Under the terms of the merger agreement, at the effective time of the merger each share of IHS Markit issued and outstanding (other than excluded shares and dissenting shares) was converted into the right to receive 0.2838 fully paid and nonassessable shares of S&P Global common stock (and, if applicable, cash in lieu of fractional shares, without interest), less any applicable withholding taxes. The adjustment reflects (i) the elimination of IHS Markit's basic and diluted shares outstanding and (ii) the assumed issuance of basic and diluted common shares as a result of the merger calculated by multiplying IHS Markit's basic and diluted common shares outstanding by the 0.2838 exchange ratio. Q1 2021 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $45 million of revenue and $26 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $60 million, stock-based compensation of $66 million, amortization of intangible assets of $94 million, restructuring and impairment charges of $7 million and other acquisition-related costs of $36 million. (c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $92 million, restructuring and impairment charges of $7 million, other acquisition-related costs of $33 million and the related provision for taxes on income of $52 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $2 million and other acquisition-related costs of $3 million. Q2 2021 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $40 million revenue and $24 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation by including depreciation expense of $55 million, stock-based compensation of $48 million, amortization of intangible assets of $91 million, restructuring and impairment charges of $2 million and other acquisition-related costs of $27 million. (c) Adjustments to present IHS Markit on an adjusted basis by adjusting for amortization of intangible assets, restructuring and impairment charges, and other acquisition-related costs. Adjustments include amortization of intangible assets of $91 million, restructuring and impairment charges of $2 million, other acquisition-related costs of $27 million and the related provision for taxes on income of $38 million. Q3 2021 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $25 million revenue and $20 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation by including depreciation expense of $54 million, stock-based compensation of $53 million, amortization of intangible assets of $87 million, restructuring and impairment charges of $12 million, other acquisition-related costs of $21 million and gains on disposals of $485 million. (c) Adjustments to present IHS Markit on an adjusted basis by adjusting for amortization of intangible assets, restructuring and impairment charges, and other acquisition-related costs. Adjustments include amortization of intangible assets of $87 million, restructuring and impairment charges of $10 million, other acquisition-related costs of $19 million, gains on disposals of $485 million and the related provision for taxes on income of $17 million. Adjustments to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $12 million, other acquisition-related costs of $2 million and the related provision for taxes on income of $3 million. Q4 2021 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) an adjustment reclassifying the $2 million of equity income from the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $56 million, stock-based compensation of $64 million, amortization of intangible assets of $85 million, restructuring and impairment charges of $11 million, other acquisition-related costs of $64 million and gains on disposals of $37 million. (c) Adjustments to present IHS Markit on an adjusted basis by adjusting for amortization of intangible assets, restructuring and impairment charges, and other acquisition-related costs. Adjustments include amortization of intangible assets of $85 million, restructuring and impairment charges of $11 million, other acquisition-related costs of $64 million, gains on disposals of $37 million and the related provision for taxes on income of $54 million. Adjustments made to present equity earnings from the OSTTRA joint venture included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $31 million and the related provision for taxes on income of $7 million. FY 2021 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $110 million revenue and $59 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation by including depreciation expense of $225 million, stock-based compensation of $231 million, amortization of intangible assets of $357 million, restructuring and impairment charges of $32 million, other acquisition-related costs of $148 million and gains on disposals of $522 million. (c) Adjustments to present IHS Markit on an adjusted basis by adjusting for amortization of intangible assets, restructuring and impairment charges, and other acquisition-related costs. Adjustments include amortization of intangible assets of $355 million, restructuring and impairment charges of $30 million, other acquisition-related costs of $143 million, gains on disposals of $522 million and the related provision for taxes on income of $127 million. Adjustments made to present equity earnings from the OSTTRA joint venture included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $43 million, restructuring and impairment charges of $2 million, other acquisition-related costs of $5 million and the related provision for taxes on income of $10 million. Q1 2020 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $47 million of revenue and $24 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $55 million, stock-based compensation of $87 million, amortization of intangible assets of $94 million, restructuring and impairment charges of $6 million, other acquisition-related costs of $1 million and losses on disposals of $10 million. (c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $87 million, restructuring and impairment charges of $6 million, other acquisition-related costs of $1 million, losses on disposals of $10 million, pension settlement of $31 million and the related provision for taxes on income of $71 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $7 million and and the related provision for taxes on income of $2 million. Q2 2020 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $40 million of revenue and $21 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $54 million, stock-based compensation of $65 million, amortization of intangible assets of $93 million, restructuring and impairment charges of $82 million, other acquisition-related costs of $6 million and losses on disposals of $2 million. (c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $87 million, restructuring and impairment charges of $82 million, other acquisition-related costs of $6 million, losses on disposals of $2 million, pension settlement of $1 million and the related provision for taxes on income of $43 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $6 million and the related provision for taxes on income of $2 million. Q3 2020 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $38 million of revenue and $21 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $53 million, stock-based compensation of $55 million, amortization of intangible assets of $94 million, restructuring and impairment charges of $10 million, other acquisition-related costs of $9 million and gains on disposals of $1 million. (c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $88 million, restructuring and impairment charges of $10 million, other acquisition-related costs of $9 million, gains on disposals of $1 million and the related provision for taxes on income of $21 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $6 million and the related provision for taxes on income of $1 million. Q4 2020 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $41 million of revenue and $14 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $56 million, stock-based compensation of $58 million, amortization of intangible assets of $93 million, restructuring and impairment charges of $63 million, other acquisition-related costs of $16 million and gains on disposals of $6 million. (c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $87 million, restructuring and impairment charges of $63 million, other acquisition-related costs of $10 million, gains on disposals of $6 million, pension settlement of $1 million and the related provision for taxes on income of $55 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $6 million, acquisition-related costs of $6 million and the related provision for taxes on income of $1 million. FY 2020 Reconciliation of IHS Markit Operating Results by Segment (dollars in millions) Note - Totals may not sum due to rounding (a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters. (b) Adjustments include (1) a proforma adjustment reclassifying the $166 million of revenue and $74 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $218 million, stock-based compensation of $265 million, amortization of intangible assets of $374 million, restructuring and impairment charges of $161 million, other acquisition-related costs of $32 million and losses on disposals of $5 million. (c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $349 million, restructuring and impairment charges of $161 million, other acquisition-related costs of $26 million, losses on disposals of $5 million, pension settlement of $31 million and the related provision for taxes on income of $148 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $25 million, acquisition-related costs of $6 million and the related provision for taxes on income of $6 million. Exhibit 3

OSTTRA Acquisitions

3 Acquisitions

OSTTRA acquired 3 companies. Their latest acquisition was MarkitSERV on September 01, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

9/1/2021

$99M

Merger

1

9/1/2021

Series D

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$99M

$99M

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10

9/1/2021

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$99M

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10

Date

9/1/2021

9/1/2021

9/1/2021

Investment Stage

Series D

Companies

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Valuation

$99M

$99M

$99M

Total Funding

$99M

Note

Merger

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Sources

1

10

10

OSTTRA Partners & Customers

1 Partners and customers

OSTTRA has 1 strategic partners and customers. OSTTRA recently partnered with BidFX on February 2, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

2/9/2022

Licensee

United Kingdom

BidFX Connects to OSTTRA to Streamline OTC FX Client Clearing - Osttra

As investment managers evaluate the costs and operational challenges of these margin requirements , the connectivity between BidFX and OSTTRA will benefit those who choose to clear more of their FX flow .

1

Date

2/9/2022

Type

Licensee

Business Partner

Country

United Kingdom

News Snippet

BidFX Connects to OSTTRA to Streamline OTC FX Client Clearing - Osttra

As investment managers evaluate the costs and operational challenges of these margin requirements , the connectivity between BidFX and OSTTRA will benefit those who choose to clear more of their FX flow .

Sources

1

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