SpectrAxe Joins Osttra Network

OTC FX options central limit order book SpectrAxe has joined Osttra’s post-trade network to offer an end-to-end service from price discovery through to execution, booking, and risk management.

The firms say that traditionally, the booking of trades could take anywhere between several minutes and, in some cases, hours, but now this process can be complete in just one or two minutes.

By connecting to the Osttra FX trade processing network, traders on SpectrAxe’s platform will benefit from real-time trade notifications booked directly into their risk systems, addressing the need for automating the post-trade FX options workflow as market participants continue to seek greater cost reductions and transparency. SpectrAxe has integrated FIX protocol with Osttra to build connectivity and efficiency.

“Our partnership with Osttra marks a significant milestone in the FX options market,” says Alvin Chopra, COO at SpectrAxe. “By combining our price discovery and execution capabilities with Osttra’s robust post-trade solutions, we are setting a new standard for efficiency and transparency. This end-to-end service reduces the complexity and time traditionally associated with trade booking and risk management, offering unparalleled benefits to our clients.”

Patrick Philpott, product design lead, FX & securities at Osttra, adds, “Automating the post-trade workflow is crucial for enhancing operational efficiency and reducing risk. Our combined expertise provides market participants with a streamlined, automated process that not only saves time but also significantly reduces the potential for errors.”