Cleartrade Exchange (CLTX) today launched another initiative to increase transparency and aid risk management for organisations trading freight and related commodity derivatives. Clearing members of any of CLTX’s clearing house partners will now be able to access its Trade Depository tool without charge and without the requirement to become a direct member of the exchange.
Bob Antell, Commercial Director, CLTX said, “I am really pleased that we are now able to offer this valuable tool to a wider number of organisations. This initiative helps to close the loop between execution and clearing visibility for GCMs. In an ever-changing market, we understand that many GCMs do not have the resources available for projects that do not directly impact revenue. Our market design is unique in that we have no requirement for a clearing member to become a CLTX member to gain direct access to our trading infrastructure”.
The CLTX Trade Depository is a web delivered application which provides a real time overview of executed trades on CLTX’s markets. The tool shows all trade parameters and crucially, displays the live clearing status of a trade. The Trade Depository has always been available to CLTX members and is tailored to display only information related to that organisation.
“An end user can see all of the trades that they either execute directly or via a broker across all brokers, products and clearing houses within the CLTX trading portfolio. Brokers can view all trades they have executed for their clients, whilst clearing members can view all trades executed either by or for their clients”.
“The Trade Depository is a valuable tool to all organisations within the freight and related commodity futures supply chain.” stated Richard Heath, Head of Product at CLTX. “As the leading Futures Execution Facility it is our goal to provide a transparent end to end service, the ability for users to see the clearing status of trades live is an added benefit”.