--- title: BidFX Connects to OSTTRA for OTC FX Clearing description: Bid FX clients will be able to submit trades directly to leading CCPs. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_28820773_l-2015-May-12-2022-09-32-31-69-AM.jpg --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/bidfx-connects-to-osttra-for-otc-fx-clearing#popup-newsletter) #### Want the latest news on securities markets -- FREE? 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Integration with OSTTRA’s clearing connectivity solution provides Bid FX clients with the ability to submit trades directly to leading CCPs. Participants trading on BidFX can benefit from having their FX NDF trades submitted directly for clearing, at multiple CCPs, without the need to build out direct clearing connectivity. BidFX clients wishing to clear trades will immediately benefit from an established community of more than 30 executing bank clearing counterparties With the implementation of phase six of the Uncleared Margin Rules (UMR) later this year (September), buy-side firms looking to optimise their balance sheets will currently be weighing up whether, or not, to clear more of their FX trades. As investment managers evaluate the costs and operational challenges of these margin requirements, the connectivity between BidFX and OSTTRA will benefit those who choose to clear more of their FX flow. Alan Dweck, Chief Operating Officer at BidFX, added: “Buy-side firms trading large volumes of non-cleared FX OTC trades may face additional operational overheads due to UMR. Our initiative with OSTTRA provides these participants with a much-needed range of options for clearing and seamless trading ahead of UMR phase six.” Patrick Philpott, FX Product Strategy, at OSTTRA, concluded: “Adding BidFX to the existing OSTTRA clearing community increases the options available to market participants wishing to benefit from the efficiencies of FX Clearing with central counterparties. The final phase of UMR reinforces the industry’s focus on initial margin and enhanced standards, and we look forward to working with BidFX and the wider market to ensure widespread access to clearing.” Source: BidFX [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/bidfx-connects-to-osttra-for-otc-fx-clearing) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/bidfx-connects-to-osttra-for-otc-fx-clearing) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/bidfx-connects-to-osttra-for-otc-fx-clearing) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. 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