FinOptSys and SwapOne have announced the release of a front-to-back solution for swaps trading, offering end-to-end straight-through processing and access to what they describe as a “pioneering” peer-to-peer swaps marketplace.
According to the two companies, this new solution, named Plexus, addresses a wide-range of pain points that users face in swaps trading and lifecycle management. Plexus is designed to bring greater efficiency to transaction negotiation, where the digitisation of counterparty ISDA documentation and credit support annex (CSA) schedules offers streamlined information flow from pre-trade downstream across the transaction lifecycle.
The firms indicate that FinOptSys’s patented pre-trade analytics offer “actionable insights” that help clients to drive the intelligent decision-making required to draw maximum value from their trading portfolios, while optimising their use of financial resources.
For traders, Plexus brings connectivity to a point-to-point marketplace where they can post indications of interest or request for quotes and ensure efficient negotiation of economic terms of the swap transaction with counterparties, boosting time and cost efficiency while delivering more accurate price discovery and greater liquidity to the market.
In the post-trade space, Plexus draws on the comprehensive suite of back-end tools offered by SwapOne. This includes customisable swap wrappers and automated trade capture, along with detailed management of accruals and cash flows.
“While trade booking errors and differences with counterparties will be greatly reduced by Plexus’ point-to-point negotiation capabilities and straight-through processing, it also provides an additional level of oversight through its daily, automated reconciliation of trade details between counterparties,” state the two firms. “Gone are the days of discrepancies at deal resets and termination mismatches.”
According to FinOptSys founder and CEO, Divyesh Bhakta, “Plexus stands as a testament to the power of collaboration and technological innovation in the financial industry. Set to redefine the landscape of swap trading and lifecycle management, Plexus is the latest milestone in our journey to lead the evolution of the securities finance industry.”
Commenting on the release, EJ Liotta, managing director at SwapOne, says: “[Plexus] is unrivalled in the marketplace. It is not only the sole front-to-back swap solution offering a well-defined roadmap to optimal decision-making, cost and operational efficiency, but also provides price discovery, enhanced liquidity and streamlined lifecycle management.”
SwapOne is part of S&P’s Global’s PrimeOne, offering a broad spectrum of post-trade lifecycle management tools for swaps.
FinOptSys is a cloud-based SaaS platform that applies the integration of AI, machine learning and analytics to power a P2P marketplace. It offers a broad range of fully integrated modules, providing a pre-trade solution for sophisticated decision-making across all securities financing products and asset types.
