OM-eTrading

OMeT-SEF

OMeT

Ride the Wave of Change
for OTC Trading.

More than an execution venue:

OMeT transforms cleared swaps trading from a fragmented, voice-driven process into a structured electronic market. At the center is OMeT-X, our exchange environment, powered by eMOD, an anonymous three-phase execution protocol: the Open Request Phase (ORP), Open Market Phase (OMP), and Open Volume Matching Phase (OVM).
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OMeT Exchange

Rules-Based Exchange for all-to-all Cleared Swaps.

E- Market on demand

A three-phase protocol that structures market interaction and liquidity formation.

Open Request Phase
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Participants submit requests for soliciting quotes with the intent to trade.

Open Market Phase

Participants submit orders to trade in live markets.

Open Volume Matching Phase

Participants submit an order at a system generated mid for matching.

Intelligence Waterfall

Transparent waterfall data showing workflow events, timing, state changes and results.

OMeT Intelligence

AI powered data services that analyze and deliver insights, analytics and decision support to market participants..

Once the trading phase of an instrument is complete, real time updates are available through the OWA-i, OMeT's Intelligence Waterfall that gives participants a transparent view of their execution activity. That data flows into OMeT-i, our intelligent data service layer, where AI-supported tools convert trading behavior, workflow events, and market outcomes into actionable insights.

Built for Institutional-Grade Execution

Rules-Based Matching

Transparent protocol logic governs execution from initiation through match.

Anonymous Participant Interaction

Intent remains protected during price formation and participant interaction.

Pre-Order Credit Validation

Execution begins with credit-certified eligibility, not post-trade uncertainty.

Structured Execution Records

Each workflow event contributes to a persistent, usable execution record.

Intelligence Layer Built from Live Activity

Execution activity becomes structured data for benchmarking, analysis, and future intelligence tools.

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Interaction Creates Data.
Intelligence Creates Value.

Execution produces more than a final trade outcome. It generates workflow events, timing markers, state changes, and interaction history that reveal how liquidity forms and trading events trend.

OMeT-i captures that activity, structures it, and makes it usable across institutional workflows for analytics insight, compliance oversight and decision support.

The Market Structure Problem

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Legacy swaps workflows do not foster best execution.

Voice and RFQ workflows were built for a different era.
Today, they create friction, leakage, and inconsistent outcomes.

Information Leakage

Negotiation exposes intent and moves the market against the participant.

Counterparty Bias

Bilateral workflows restrict access to best price.

Credit Fragmentation

Dispersed credit limits reduce visible liquidity.

Post-Trade Latency

Manual reconciliation delays trade settlement and increases risk.

The market does not need a better messaging layer. It needs an exchange.OMeT-Xis that exchange.

Turning Execution Activity into Structured Market Intelligence

A new layer of infrastructure for cleared derivatives markets.

OMeT is built for cleared derivative markets that require transparency, competition, and auditability at the point of execution. By capturing the workflow behind execution, not just the final outcome, OMeT creates a structured intelligence layer built from real market activity.

That layer can support benchmarking, monitoring, and a clearer institutional view of execution quality and market opportunity.

Efficient execution. Structural intelligence.

OMeT replaces bilateral negotiation and voice workflow with an anonymous, protocol-driven execution environment built for institutional markets.

No pre-trade signaling. Eliminating unnecessary exposure of intent.

OMeT is designed to reduce information leakage by keeping execution anonymous and eliminating pre-trade signaling by removing unnecessary exposure of participant intent.

No disclosure of identity.

No disclosure of order quantity.

No disclosure of directionality.

All-to-all participation allows
the best price to compete

OMeT reduces counterparty bias by enabling all-to-all participation in a rules-based execution environment where price competes on merit. By removing relationship-driven constraints from the workflow, OMeT helps create a fairer, more competitive path to execution.

Markets are accessible to all eligible participants

Orders are reflected in price/time ranking.

Connected workflow

OMeT reduces operational risk by integrating execution and clearing into a more connected workflow. By narrowing the gap between trade execution and post-trade processing, OMeT helps support greater operational clarity, fewer manual handoffs, and more dependable clearing outcomes.

Dynamic limit checks for all eligible orders.

Direct integration to CCP’s for trade acceptance.

Structured market data

OMeT turns execution activity into structured market data that compounds over time. By capturing every quote, response, and outcome, OMeT builds an intelligence layer from real market activity that can support better analytics, benchmarking, and institutional decision-making.

Personalized real time waterfall for the participants activity on OMeT-X.

Anonymized data
for all activity on
OMeT-X.

Industries

Most platforms stop at the trade.

OMeT does not.

Execution reveals how liquidity forms, where friction appears, and which conditions improve outcomes.
OMeT captures that activity and turns it into a durable intelligence asset.

The eMOD Protocol

A new standard for OTC derivatives execution.

eMOD is OMeT's patent-pending execution protocol for cleared OTC derivatives, beginning with the Mexican peso F-TIIE swap market. It is designed to reduce information leakage, improve liquidity formation, and create a more reliable path from intent to cleared execution.

How eMOD Works

Open Request Phase

The ORP (Open Request Phase) is the first, private stage of OMeT’s three-phase trading protocol and serves as the starting point for a trading session.

The purpose of the phase is controlled, discrete price discovery that helps transfer risk with minimal disruption to the broader market, before the session moves on to the next phase the OMP.

Private and anonymous
Designed to surface the best bid and offer discreetly, minimizing market disruption.
Two-way markets are visible for trading.

Open Market Phase

The OMP (Open Market Phase) is the second stage of OMeT’s three-phase trading protocol and follows the ORP phase as the session moves from private price discovery into a visible, “lit” market. In OMP, bids and offers are displayed to all qualified participants on the platform, creating an exchange-like or central-limit-order-book style environment for continued trading and broader market visibility.

OMP picks up where ORP leaves off, preserving the order book, accepting new orders, and sustaining uninterrupted execution through the trading phase.

Lit and transparent
Supports continuous trading
Flexible quoting behavior

Open Volume Matching

The OVM (Open Volume Matching Phase) is the third and final stage of OMeT’s trading protocol, triggered when the OMP market becomes stale with no further price improvement, or trading activity.
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OVM is intended to help clear residual interest that was not fully executed earlier in the session, serving as a last matching mechanism before the trading session concludes.