OTC Operations & Tracking Platform

An OTC desk moving billions lives or dies on operational clarity: what was traded, on what terms, where each position stands, and which flows have actually settled. Our client needed a single system of record for that picture — one place where trade capture, positions, and settlement status agree with each other, instead of being reassembled from separate tools every time someone asks a question.

The constraint that shapes everything here is trust in the record. A tracking platform is only useful if operations, trading, and finance all treat it as the truth, which means capture has to be fast enough that the desk actually uses it for every trade, and reconciliation has to be rigorous enough that discrepancies are caught by the system rather than discovered later by an auditor.

We built the platform deliberately as a system of record, not a matching engine: it tracks the desk’s activity rather than processing the flows itself. Trade capture is the front door — structured entry of each trade’s economics — feeding position and flow tracking that shows exposure and settlement state per counterparty and asset, kept current as trades move through their lifecycle.

On top of the captured record sit reporting and reconciliation views. Reconciliation compares what the record says should have moved against what the desk’s operational data shows, flagging breaks for review; reporting turns the same trade data into the views that operations and management actually work from. One dataset underneath everything, with no parallel spreadsheets drifting out of sync.

Since 2024 the platform has tracked more than $3.4B in volume across 20,000+ trades. To be precise about what that number means: it is volume tracked as the system of record, not volume processed — the platform is where the desk’s trades, positions, and settlement states are captured and reconciled, not the rail the money moves over.

That precision is the point of the product. The desk has one place where a trade’s full lifecycle — capture, position impact, flow, reconciliation status — stays visible and consistent at multi-billion-dollar scale. Questions that would otherwise mean stitching data together from several sources are a single query against a record the whole desk already works from.