S&P Global and CME Group have agreed to sell their joint venture OSTTRA to investment funds managed by KKR in a deal valued at $3.1 billion.
S&P Global, CME Group to Sell OSTTRA to KKR for $3.1 Billion
In a press release on Sunday, CME noted that the post-trade solutions provider, formed in 2021, has grown into a critical infrastructure player in the global over-the-counter (OTC) derivatives market.
The enterprise value of the transaction will be split equally between S&P Global and CME Group, which each hold a 50% stake in OSTTRA.
The sale is expected to close in the second half of 2025.
Headquartered in London, OSTTRA offers post-trade processing, lifecycle management, and optimisation solutions across interest rates, FX, credit, and equity asset classes.
Its client base includes global banks, asset managers, and broker-dealers.
OSTTRA will continue to be led by co-CEOs Guy Rowcliffe and John Stewart, with KKR pledging to support its technological innovation and global expansion.
“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,” said Rowcliffe and Stewart.
KKR partner Webster Chua called OSTTRA’s market position and mission-critical services “a great foundation for future growth.”
KKR also plans to introduce a broad-based equity ownership programme for OSTTRA’s 1,500 employees.
