SIGRID
WRITING

Notes on OTC identity and operations.

Short essays on bilateral matching, deterministic identity, and the operational mechanics of OTC post-trade.

Trade Identity26 Apr 2026·6 min read

The gap between ISDA CDM and trade matching

ISDA's Common Domain Model is a schema. Trade matching is an operation on data. The first does not give you the second.

Exception Management20 Apr 2026·5 min read

31 minutes on a Tuesday: anatomy of a rates affirmation break

Walk through what actually happens between 09:14 and 09:45 when an IRS doesn't affirm. The forensic part is finding the field that differs.

Trade Identity18 Apr 2026·2 min read

What is deterministic trade identity?

A deterministic identifier gives counterparties a shared way to know whether they are talking about the same OTC trade terms.

OTC Matching13 Apr 2026·6 min read

What MarkitWire actually does (and what it doesn't)

MarkitWire is a workflow tool, not a matching engine — and that distinction is why every break starts with thirty minutes of manual scrolling.

OTC Matching11 Apr 2026·2 min read

Why OTC matching still breaks

Most OTC breaks are not mysterious. They usually come from small differences in economic terms, dates, lifecycle fields, or conventions.

Exception Management04 Apr 2026·2 min read

Why field-level diffs matter more than match rates

A high match rate is comforting until the remaining breaks consume the whole morning.

Product Notes28 Mar 2026·2 min read

The pair room: a better model for bilateral OTC exceptions

Instead of each side managing its own queue, the pair room creates a shared operating surface for attestations, breaks, awaiting items, and lineage.

Post-trade Operations21 Mar 2026·2 min read

Awaiting is a status. Aging is the risk.

Awaiting items look harmless until they quietly age into SLA problems.