Press Release: 11 May 2017

OTCX partners with Cassini Systems to provide a unique MIFID II compliant workflow and analytics solution for OTC trading. Cassini Systems, an innovative provider of analytics solutions for OTC derivatives trading, and OTCX, the fast growing, independent RFQ platform and trading network, today announced their partnership to offer Buy Side clients a new, fully integrated solution for OTC trading.

The solution offers:

  • Best Execution - the combination of OTCX’s trading data and Cassini’s analytics engines provide optimal execution of OTC trades
  • MIFID II Best Execution compliance with complete UTC timestamped audit trail
  • Price discovery, execution and affirmation for liquid and illiquid derivatives via the OTCX platform
  • Access to Cassini’s comprehensive pre-trade analytics such as OTC Lifetime Cost Analysis and Venue Eligibility checks

Commenting on the partnership, Nicolas Koechlin, CEO of OTCX, said: “We are pleased to partner with Cassini and offer firms trading OTC derivatives a comprehensive set of intelligent and integrated tools that will bring new efficiency to their trading processes. Our clients are not only keen to digitalize their OTC workflows, but also to leverage the structured data captured in OTCX. This data improves their trading decisions and meets their regulatory obligations.”

Adding to this Liam Huxley, founder of Cassini Systems, said: “At Cassini we have developed a range of powerful analytics engines, both pre-trade and post trade. These calculate and optimize factors such as margin, funding costs, collateral, fees, and operational limits which we integrate at pre-trade into the trading decision process. OTCX share our desire to improve operational efficiency in OTC derivatives trading, our offering is a great fit with OTCX’s flexible and structured RFQ platform.”

About Cassini Systems

Cassini Systems is a financial technology company based in New York and London. Cassini offers an analytics platform for OTC trading combining risk, limits, fees, margin and collateral. At pre-trade stage users can access What-If trade testing, Best Execution and Best Hedge recommendations alongside Regulatory and Operational Limits Monitoring. Post-trade users can access Collateral Optimization along with Portfolio Optimization services including compression, novation and porting. Cassini’s vision is to provide a holistic platform that allows the front office to include all post-trade factors in trade decisions.

About OTCX

OTCX's independently owned multi-dealer RFQ platform is designed for the Buy Side and brings unrivalled performance and operational efficiency to the trading of vanilla and exotic OTC derivatives. OTCX benefits anyone looking for a smarter, more efficient way to manage their OTC trading. The platform’s flexible trade capture and structured communication set a new standard in operational performance, freeing buyers of OTC derivatives from a dependence on manual process and fragmented technology.

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