TRADExpress Client Clearing

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With Dodd-Frank, EMIR and Basel III the client clearing business is facing entirely new challenges. The need for automation and efficient work flows increase as swaps are standardized and centrally cleared. Investors will need to be increasingly collateral-smart and closely watch margin requirements.

Cinnober's TRADExpress Client Clearing makes it possible to integrate a clearing bank’s entire client clearing service in a single system — across all geographic markets and all asset classes — for OTC as well as listed instruments. The benefit is a real-time overview of clients’ net risk at the clearing bank and at each clearinghouse. It also gives a cost-efficient and extendable solution compared to system silo approaches where a patchwork of applications handles the different markets and asset classes.

This is made possible by a flexible account and instrument structure, and an innovative plug-in architecture, which enables the use of as many different risk calculation models as needed. This makes the system truly asset class-agnostic and enables new markets and complex products to be added with short time-to-market.

TRADExpress Client Clearing can be ordered as hosted and fully managed by Cinnober’s experienced service organization.

Key Features

  • Multi-asset system
  • The system includes the Standard Portfolio Analysis of Risk (SPAN)* and Value at Risk (VaR) models. Other algorithms can be implemented efficiently as plug-ins. 
  • Automation and efficient work flows for real-time trade reconciliation, exception management and trade allocation
  • On-boarding new clients and adding further marketplaces and clearinghouses follow defined, streamlined work flows

* ‘SPAN’ is a registered trademark of Chicago Mercantile Exchange Inc., used herein under license.

Key Benefits

  • Real-time overview of clients’ net risk at the clearing bank and at each clearinghouse
  • Enables an integrated cross-market client clearing service
  • Cost-efficient and extendable solution 
  • Proven performance with TRADExpress Platform as technical base, providing outstanding capacity in terms of speed, throughput, extensibility, and robustness 

Product/Service details