CLTX launches new Trade Intelligence service

20 January 2016,

Horizontally integrated futures exchange publishes details of STP flow and clearing times for bulk commodities across multiple clearing houses

Cleartrade Exchange (CLTX) today announced the launch of a new Trade Intelligence service which for the first time, gives members access to Straight Through Processing (STP) rates, clearing times and clearing distribution of all trades that pass through the company’s infrastructure.

Zhirui Ang, CLTX’s Operations Director explains. “Our new Trade Intelligence data allows us to show a behind the scenes look into CLTX for the first time. In 2015, CLTX processed almost 30,000 trade events, these trades were distributed across 539 counterparties, settling into 4 clearing houses and utilising 99 different clearing entities with 2,552 individual clearing accounts. Our technical infrastructure maps all of the combinations available to every counterparty with the objective of being able to instantly novate any trade event electronically to the relevant clearing house and to collect and pass back to the end user or broker the live status of that trade as it moves from execution, to clearing, to confirmed.”

Trade Intelligence data from Cleartrade Exchange is available to all members via the CLTX Portal. CLTX Portal is the access point for all of the exchange’s products and services. In addition to the new Trade Intelligence data, users of the portal can access real time price discovery for CLTX markets, download the exchange’s trading system (CLTX Trader) and use CLTX’s Trade Depository tool to track the status of their own trades through the CLTX infrastructure in real time through a unified solution covering multiple CCPs and IDBs.

Richard Heath, Head of Business Development at CLTX said. “I am really pleased that we are now able to share this unique view of the market with our clients. Increasing efficiency and reducing risk in the chain between trade execution and clearing has always been a key objective for us and with the constant push for regulatory reform of OTC derivatives markets by global regulators, these services are now key in helping our clients to continue to do business in an ever more complex environment.”

“In the asset classes where we have been working the longest, such as freight, we have had several years to build and enhance our solution so it is in these products that we see the highest STP rates, 99.09% for freight in Q4 15.” Zhirui commented further. “Structurally, it can be difficult to achieve this standard in other markets as it’s not just the complexity of managing all the client side data which creates challenges. There is no ‘one size fits all’ approach when it comes to building STP connections to multiple clearing houses. The messaging protocol used and workflows are often different for each individual CCP as are the way that outrights, spreads and options are handled by their respective APIs. However our target is to achieve 100% STP for all products and because we are constantly working with our CCP partners to achieve this we are getting closer every day.”

About CLTX Exchange

Cleartrade Exchange (CLTX) is a regulated futures market for the global commodity derivatives marketplace. CLTX offers an electronic order book with a suite of over 40 different derivative contracts covering Energy, Freight, Metal and Agriculture.

CLTX is a Recognised Market Operator (RMO) regulated by the Monetary Authority of Singapore (MAS), incorporated in Singapore with offices in London.

Cleartrade Exchange, an EEX company, part of Deutsche Börse AG

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