Each of the systems in the OTC derivatives post-trade process, such as Order Management, Matching, Valuation, and Settlement were developed or bought as a standalone system each with their own data definitions. As firms seek to improve straight-through processing (STP) rates, these systems are being integrated with each other, utilities, custodians and counterparty applications leading to the problem of managing diverse and constantly evolving data models.
Rather than dealing with the costs and project delays of learning many financial services standards, hand-coding and testing schemas, transformations, and validation rules, C24 Technologies’ OTC Derivatives STP solution lets developers use model-driven tools to import FpML data models, configure changes and specialize data for various constituents—from partner applications to business analyst spreadsheets. With higher rates of automation, errors are reduced, there is less ambiguity with counterparties, and financial organizations significantly reduce the risk of failed transactions.
C24's OTC Derivatives STP solution includes C24 Integration Objects Studio, runtime, reference implementations and pre-built financial messaging standards libraries for FpML, SWIFT Derivatives and DerivSERV. Deployable as SWIFT Java objects, you can leverage your existing investments in Java middleware, such as Spring or Fuse.
Financial organizations worldwide rely on C24 Integration Objects to: