Rothera Goes Live on Smartstream’s Air to Automate High-Volume Derivatives Reconciliations

Key Facts

- Rothera, a derivatives exchange and clearinghouse regulated by the U.S. Commodity Futures Trading Commission (CFTC), has gone live on Smartstream’s Air, deploying the Cash and Data modules to automate its reconciliation operations.

- The new implementation replaces manual processes, enabling Rothera to reconcile circa 1.7 million daily transactions within a fully automated, fully audited environment.

- Go-live for two data reconciliations: Exchange-to-Clearing Instruments and Exchange-to-Clearing Trades – with further reconciliation flows to follow.

LONDON--(BUSINESS WIRE)--Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announced that Rothera, the U.S.-based CFTC-regulated event contract market, has gone live on Smartstream’s Air. Rothera has deployed Smartstream’s Cash and Data modules to automate high-volume derivatives reconciliations across its CFTC-regulated exchange and clearinghouse business.

As transaction volumes on the exchange grew, Rothera sought to scale and automate its existing reconciliation processes to support greater operational efficiency and robust audit controls.

To support this growth, Rothera selected Air’s Cash and Data modules as a new implementation. The AI-powered platform ingests, matches, and reconciles high-volume data flows with minimal manual intervention, providing a fully audited environment aligned with regulatory obligations of a CFTC-regulated venue.

Following an initial go-live for two data reconciliations: Exchange-to-Clearing Instruments and Exchange-to-Clearing Trades, Rothera now benefits from substantially reduced manual effort, faster exception identification, and a complete audit trail across its operations. Additional reconciliation flows are planned as the rollout continues.

“As we grow Rothera’s markets, we’re investing in infrastructure that supports increased trading activity with reliable operations and robust controls,” said Joseph McGlawn, Chief Clearing Officer of Rothera. “Smartstream’s Air enables us to automate high-volume reconciliations, identify exceptions quickly while maintaining a clear audit trail, and allow our team to focus on operational oversight. This foundation enables us to extend automation to additional workflows over time.”

Robin Hasson, Head of Product, Smartstream, commented: “We're delighted to support Rothera as it scales its post-trade operations with Air. Rothera is now able to efficiently manage around 1.7 million daily transactions while strengthening operational resilience and control. This go-live marks an important milestone, and we look forward to supporting Rothera as it expands its reconciliation capabilities in the future.”

ABOUT ROTHERA

Rothera Exchange and Clearing LLC is a US-based, CFTC-regulated exchange and clearinghouse built for event contract markets. Designed as a neutral marketplace, Rothera provides institutional-grade trading and clearing infrastructure for futures commissions merchants, intermediaries, market makers and other firms. Rothera is led by a team with decades of experience in building and managing institutional trading venues, and was founded as a joint venture between Robinhood and Susquehanna International Group. The company is committed to advancing responsible growth of event markets through reliable operations, robust controls, strict compliance standards, and transparent contracts that can help participants express views on future outcomes, understand market expectations, and manage event-driven risk.

www.rothera.io/

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