OCL pleased with Netting pilot scheme results
Option Computers Ltd (“OCL”) has launched a real-time solution for FX trade matching and aggregation to solve volume capacity issues within the industry.
Option Computers Ltd (“OCL”) has launched a real-time solution for FX trade matching and aggregation to solve volume capacity issues within the industry. A pilot scheme for inter-branch and bi-lateral netting is underway with banks utilising the real-time DealHub Matching and Aggregation Engines and GUI applications to review daily summary positions, unmatched and matched trades, component and net trades, investigation queues and exception screens.
Testing during the two recent very high volume days on Thursday 16th and Friday 17th August delivered proven compression levels in excess of 95%. Connectivity between the banks is provided by the secure Radianz network which is the world’s largest shared market infrastructure designed specifically for the financial services market.
“DealHub is uniquely positioned within a substantial number of Tier 1 banks to see the complete deal flow from all inter-bank, e commerce and prime brokerage client venues, and we already communicate with risk management, trading and settlement systems. We are the logical choice to work with both CLS and the banks to provide suitable technology to solve any capacity issues.” said Peter Kriskinans, MD of OCL.