PwC and Baymarkets Form Post-Trade Alliance

The firms partner to design and operate post-trade and clearing solutions in the financial markets

Oslo-headquartered provider of FinTech solutions, Baymarkets, today announced a joint business relationship with PwC Switzerland, Switzerland’s audit and advisory company, to deliver global post-trade and clearing solutions.

Baymarkets was founded in 2007 and specialises in OTC and clearing, multi-asset and MiFIDII solutions.

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The partnership will combine the practical know-how, experience and skills of both companies to design, implement, deliver and operate post-trade and clearing solutions in the financial markets.

This includes the Baymarkets ‘real-time clearing’ Clara platform; deep knowledge and first-hand experience of providing both exchange and OTC trading and clearing technology, across multiple asset classes, as well as the expertise of PwC Switzerland in the project management, rulebook creation, regulatory applications and operational routine verticals.

Clara is approved by a number of competent national authorities and has a proven operational track record for clearing cash and derivatives in multiple asset classes with clearing houses since 2010, Baymarkets says.

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PwC notes that in the recent turbulent markets, Baymarkets’ Clara has proven its capabilities by handling almost double previous volumes with no drop in performance.

New possibilities within crypto markets

Building on previous collaborations within the risk and post-trade marketplaces, PwC Switzerland and Baymarkets are looking forward to extending their traditional post-trade collaboration to also look into possibilities within the newer digital and crypto markets over the coming months. The joint business relationship is well positioned to support firms who are starting to investigate and initiate transformative programmes.

“We are very pleased to announce this collaboration. We see a number of opportunities to work together combining the strength of our expertise and their globally-established Clara platform to respond to new opportunities, within the traditional marketplace, as well as emerging markets and technologies,” says Martin Liebi, Head of Capital Markets at PwC Switzerland.

“Baymarkets is a leading challenger to the large exchange-controlled vendors and, as an independent and agile provider, can implement new risk algorithms and functionality quickly and effectively,” he adds.

“The combined power of PwCs unparalleled global network of financial markets experts and Baymarkets expertise and longevity in delivering solutions in the post-trade and clearing space, will provide leverage to enable both organisations to identify mutually beneficial opportunities and deliver solutions for this important part of the trading value chain,” Tore Klevenberg, CEO of Baymarkets, says.

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