Delta Capita launches Elaris OTC platform to automate derivatives post-trade

UK-headquartered Delta Capita has launched Elaris OTC, a new solution designed to streamline and modernise post-trade processes for OTC derivatives.

The solution, which is powered by blockchain platform operator Fragmos Chain, is a platform that enables seamless and fully automated matching of OTC derivatives trades and lifecycle events between market participants. The platform also ensures the translation of native client messaging formats into the Common Domain Model (CDM) standard, enabling interoperability across the derivatives chain.

Using the solution, financial institutions can reduce operational costs for post-trade processes and risk significantly for all asset classes and lifecycle events.

According to Delta Capita, these efficiencies can unlock major savings for industry players. Valued at approximately $700 trillion according to the Bank for International Settlements (BIS), the OTC derivatives market is fragmented, with an estimated 20% of trades still confirmed and settled manually.

“Elaris OTC addresses this inefficiency by offering a fully digitised, automated, interoperable solution,” said Mark Aldous, Global Head of Capital Markets Managed Services at Delta Capita. “Our end-to-end offering brings together best-in-class technology and proven operational capabilities. Fully digital, CDM-aligned, and scalable, Elaris OTC sets a new standard for the industry.”

The launch of Elaris OTC builds on Delta Capita’s longstanding track record in the capital market sector. In January this year, the firm signed a multi-year agreement with HSBC, which sees Delta Capita delivering OTC derivatives confirmation and settlement services globally.

“Elaris OTC can be combined with Delta Capita’s global OTC confirmation and settlement services to extend automation beyond platform participants. This combination enables users to capture and manage interactions with all counterparties – whether or not they use the platform, and leverages Delta Capita’s established service model to deliver straight-through processing and control across the full spectrum of post-trade activity,” Aldous noted.