• First clearable derivatives risk model of its kind
• UnaVista's platform offers range of methods for inputting data
• Service expected to be available from spring 2014
London Stock Exchange Group today announces that UnaVista has partnered with NetOTC to provide a new service that will enable firms to monitor and match derivative transactions prior to novation and settlement.
The hosted solution provided by UnaVista will provide NetOTC customers with a platform to upload their derivatives transactions. The trades will be processed through a daily workflow mechanism, matching trades and exposures between NetOTC and its clients. The multi-layer reconciliation functionality will use NetOTC's new proprietary risk model to distribute items for novation, which, in turn will benefit from net margining and settlement.
Mark Husler, CEO of UnaVista and Global Head of Product Management, Information Services, LSEG said:
"We are very pleased NetOTC has chosen LSEG's UnaVista to provide their trade uploading, reconciliation and exception management software solution. We are always striving to partner with key market players to offer our customers market leading innovative solutions. Leveraging our established connections to banks with NetOTC's pioneering approach makes this collaboration very exciting."
Bob Wigley Chairman of NetOTC said:
"We are delighted to be partnering with London Stock Exchange Group to offer this unique service. UnaVista's agile and adaptable technology combined with their ability to be quick to market makes it the perfect software for our unique risk model."