S&P and CME Group to sell post-trade business to KKR for $3.1bn

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Osttra was established in 2021 as a 50/50 joint venture when CME Group merged its optimisation businesses with S&P Global’s middleware business.

The unit provides a suite of post-trade offerings across interest rates, FX, credit and equity asset classes, serving banks, broker-dealers, asset managers, and other market participants across trade processing, trade lifecycle, and optimisation.

Co-CEOs Guy Rowcliffe and John Stewart will continue to lead the company in their current roles.

KKR says that post-acquisition, it will back a broad-based equity ownership programme for the company’s nearly 1,500 employees.

Say Rowcliffe and Stewart: “With KKR’s support, we will further accelerate our strategic initiatives to enhance our market-leading post-trade solutions, drive innovation, and expand our global footprint. Together, we look forward to delivering even greater value to our customers and helping them navigate the ever-evolving OTC landscape.”