The Pulse
Rothera Automates Reconciliation for 1.7 Million Daily Transactions
Rothera has gone live on Smartstream’s Air platform, deploying its Cash and Data modules to automate reconciliation across its CFTC-regulated exchange and clearinghouse. The first two live workflows compare instruments and trades, with addi
AI.info Team · Written with AI ·
Two exchange-to-clearing workflows are live
Rothera has put Smartstream’s Air platform into operation to automate reconciliation across its U.S. exchange and clearinghouse, Smartstream announced on October 6, 2026. The CFTC-regulated event contract market has deployed Air’s Cash and Data modules as trading volumes grow. Smartstream says the system can manage about 1.7 million daily transactions.
The first live workflows compare instruments and trades between Rothera’s exchange and clearing operation. These checks help identify differences between records held on each side of the clearing process. Smartstream says Rothera plans to add further reconciliation flows as the rollout continues.
Automation replaces manual comparison
Before the deployment, Rothera was looking to scale its existing reconciliation processes as transaction volumes increased. Smartstream says Air ingests, matches and reconciles high-volume data flows with minimal manual intervention. The company says the implementation has reduced manual effort, sped up exception identification and created an audit trail across Rothera’s operations.
Those controls matter in a regulated exchange and clearinghouse, where firms need to track how records match and how discrepancies are handled. The release describes the system as providing an audited environment aligned with the venue’s regulatory obligations. It does not disclose the size of the reduction in manual work, the implementation cost or a measured error rate.
Rothera says staff can focus on oversight
Joseph McGlawn, Rothera’s chief clearing officer, said the company is investing in infrastructure to support increased trading activity while maintaining operational controls.
“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.”
Smartstream Head of Product Robin Hasson said the platform lets Rothera manage around 1.7 million daily transactions while strengthening operational resilience and control. Hasson described the go-live as a milestone and said Smartstream looked forward to supporting Rothera’s planned expansion of its reconciliation capabilities.
“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.”
Robin Hasson, Head of Product, Smartstream
Smartstream’s announcement names the first two workflows as Exchange-to-Clearing Instruments and Exchange-to-Clearing Trades; it gives no timetable for the next set. It says the deployment has substantially reduced manual effort, accelerated exception identification and provided a complete audit trail, but does not quantify those changes.
A post-trade system for an expanding venue
Rothera describes itself as a U.S.-based, CFTC-regulated exchange and clearinghouse built for event contract markets. The company says it provides trading and clearing infrastructure for futures commissions merchants, intermediaries, market makers and other firms. It was founded as a joint venture between Robinhood and Susquehanna International Group, according to the announcement.
The release does not break down the 1.7 million daily transactions by product or specify how many are processed in each live workflow. For now, the disclosed deployment covers the two exchange-to-clearing data checks, using Air’s Cash and Data modules. Smartstream says additional reconciliation flows are planned as the rollout continues.