TRADExpress RealTime Clearing

Comprehensive real-time clearing solution for OTC and exchange-traded markets

Capital-efficient clearing services

Cinnober’s award-winning TRADExpress™ RealTime Clearing helps clearinghouses meet the ever increasing demands of the post-trade value chain with integrated position keeping, real-time risk and collateral management, as well as settlement, across markets.

By leveraging real-time cross-asset clearing, clearinghouses can offer increasingly competitive and capital-efficient services. The ability to cross margin and net offset client positions reduces collateral requirements, while unified settlement processes enable more efficient cash management.

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

 

 

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Key features

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Multi-asset architecture, 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) including initial and variation margin, margin stress tests, back tests and what-if portfolio scenarios.
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Integrated margining and collateral management, across multiple asset classes.
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Plugins for new instruments and risk methods, delivering short time-to-market for new products and services, and a flexible way to adapt to new market demands.
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Capacity to manage millions of accounts under heavy trading conditions, ensuring a scalable, high-throughput solution.
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Resilient architecture with seamless failover between sites, with a proven track record of system availability.
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Standard protocol support, for example FIX and SWIFT.
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Margin calculations down to final investor level to support omnibus and individually segregated accounts.

Based on the TRADExpress Platform

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

Learn more

 

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

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