TRADExpress RealTime Clearing

A comprehensive real-time clearing solution for OTC and exchange-traded markets

Capital-efficient clearing services

The award-winning TRADExpress™ RealTime Clearing meets increasing demands on the post-trade value chain. A unique asset-class agnostic architecture enables integrated position keeping, real-time risk and collateral management and settlement across markets.

Cross-asset real-time clearing means your clearinghouse can offer competitive and capital-efficient services. The ability to cross margin and net offset client positions reduces collateral requirements, while settlement processes are unified for more efficient cash management.

Risk is monitored and managed in real time using multiple algorithms for margin calculation and collateral valuation. This enables intraday margin calls to manage exceeded risk limits instantly.

 

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Key features

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Multi-asset architecture for a truly integrated clearinghouse, covering the entire value chain from trade capture through trade, position and risk management to settlement.
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Real-time and on-demand risk calculations using multiple algorithms such as SPAN* and VaR. Calculations include initial and variation margin, margin stress tests, back tests and what-if portfolio scenarios.
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Integrated margining and collateral management, cross asset classes, reduce the requirements on clients for reserved capital.
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Plugins for new instruments and risk methods provide a short time to market for new products and services. This is a flexible way to adapt to new market and regulatory demands.
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The capacity to manage millions of accounts under heavy trading conditions ensures a scalable, high-throughput solution.
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Resilient architecture with seamless failover between sites has a proven track record of system availability.
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Standard protocol support, e.g. FIX and SWIFT.
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Margin calculations down to final investor level to support omnibus and individually segregated accounts.

BASED ON TRADEXPRESS platform

Cinnober's real-time clearing system is based on the TRADExpress Platform that provides some of the world’s most demanding marketplaces with speed and resilience. 

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*SPAN (Standard Portfolio Analysis of Risk) is a registered trademark of Chicago Mercantile Exchange Inc., used herein under license.