OM-etrading
OMeT-sef
OMeT
Ride the wave of Change
for OTC Trading.
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, a 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 anonymous, all-to-all Cleared Swaps.
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E- market on demand
A three-phase protocol that structures market interaction and liquidity formation.
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open request phase
Participants submit requests anonymously for soliciting quotes with the intent to trade.
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open market phase
Participants submit orders anonymously to trade in live markets.
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open volume matching phase
Participants submit an order at a system generated mid for matching.
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intelligence Waterfall
Transparent waterfall data showing workflow events, timing, state changes and results.
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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 OMeT Intelligence Waterfall, giving participants a transparent view of 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-Trade 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.
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 captures that activity, structures it, and makes it usable across institutional workflows for analytics insight, compliance oversight, and decision support.
The Market Structure Problem
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.
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 better messaging.
It needs better execution structure.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
04
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.
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 TIIE swap market. It is designed to reduce information leakage, improve liquidity formation, and create a more reliable path from intent to cleared execution.
eMOD is OMeT's patent-pending execution protocol for cleared OTC derivatives, beginning with the Mexican peso 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.
In this phase, the liquidity requester remains fully anonymous, submits their full intended size only for the platform’s limit check, and that size is not disclosed to market participants. Eligible liquidity providers are then invited to respond with quotes, allowing the requester to discover the best bid and offer in an anonymous environment.
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.
In this phase, the liquidity requester remains fully anonymous, submits their full intended size only for the platform’s limit check, and that size is not disclosed to market participants. Eligible liquidity providers are then invited to respond with quotes, allowing the requester to discover the best bid and offer in an anonymous environment.
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.
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.
In this phase, the system calculates a midpoint from the last valid two-way market in OMP and gives participants a final opportunity to match any remaining volume at that predetermined mid price.
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.
In this phase, the system calculates a midpoint from the last valid two-way market in OMP and gives participants a final opportunity to match any remaining volume at that predetermined mid price.
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.
- Final matching stage
- Mid-price execution
- Clears remaining volume
True anonymity
Pre-order credit certainty
Continuous liquidity formation
Reduced signaling risk
From Order to Clearing
Order Entry
Anonymous protocol-driven initiation.
Credit Check
Lightning-fast UI that reps actually enjoy using—built for speed and zero friction
Match
Track performance and forecast revenue with real-time, built-in dashboards.
Clear
Immediate clearing and settlement.
No last look. No post-trade renegotiation.
All matches are final and binding.
OMeT Intelligence
Every interaction on OMeT creates structured data that bilateral workflow cannot replicate. That data becomes an intelligence layer for analytics, benchmarking, and better institutional decision-making.
Built for a market that learns.
The next generation of market companies will be defined not only by execution, but by what they learn from market behavior and how they turn that learning into value.
Every trade improves the market system.
Every interaction expands the data asset.
Every interaction expands the data asset.
