Tech vendor SimCorp has partnered with OTCX, a multi-dealer platform for OTC derivatives, to provide its clients direct access to OTCX’s request for quote (RFQ) platform.
The integration of the platform into SimCorp’s core investment system will give its buy-side clients access to a wider network of OTC liquidity providers in one seamless workflow.
For buy-side firms complying with MiFID II, it will also allow them to automate trade reconstruction and meet the best execution rules.
Merlon Capital Partners, an Australian-based boutique fund manager, was the first of SimCorp’s clients to trial the OTCX platform.
“OTCX simplified our OTC derivatives workflow and enabled us to evidence, on demand, our best execution process. It was important for us to have OTCX integrate with SimCorp Dimension and we are pleased to hear that OTCX and SimCorp will collaborate on further front office integration in the near future,” said Andrew Fraser, head of trading, Merlon Capital Partners.
According to Nicolas Koelchlin, CEO of OTCX, said the partnership will further enhance buy-side electronic workflow for OTC derivatives.
“We look forward to providing SimCorp’s clients with the most effective price discovery, execution and settlement of trades for liquid and illiquid derivatives,” he said.