OSTTRA MarkitWire recorded several milestones in the first three months of 2026 amid increased market activity in rates derivatives. Both linear and non-linear rates products reached an all-time high of 6.3m total contracts processed in Q1, a 27% increase over the same period in 2025. A single trading day volume record was further surpassed on 13 March when over 150,000 rates trades were processed through the OSTTRA MarkitWire platform.

The strong start to 2026 builds on momentum from last year, which saw $1.56 quadrillion in total rates notional value processed, a 25% increase over 2024. This activity was spread across 35 currencies, which included recent additions such as the Saudi Riyal (SAR), UAE Dirham (AED), and Chilean Unidad de Fomento (CLF). OSTTRA MarkitWire serves to connect traders with clearing houses in streamlining rates trading, through automated messaging and confirmation.

Exotic and non-linear rate contracts also posted the best performing month in March, with over 68,000 swaptions trades processed across over 100 banks and 180 end-user clients. Demand for optimisation in cross-currency swaps also continues to grow. Participating member banks in OSTTRA’s settlement service connected to CLS have doubled since 2023, with cross-currency settlement volumes quadrupling to over 59,000 trade settlement instructions over the last 12 months compared to three years ago.

Michael Wilshere, Rates Product Owner for Trade Processing at OSTTRA said:

“Geopolitical risk and heightened uncertainty are pushing traders to rapidly address risk and rate cycles in volatile markets. The record-breaking volume on OSTTRA MarkitWire demonstrates the critical role it plays in supporting the market in managing post-trade risk. Further automation of post-trade processes is at the centre of what we do at OSTTRA, as we add new functionality and more currencies to our network.”

Source: OSTTRA