Trade processing firm Traiana has certainly been active this year in terms of corporate development. Today is no exception, with an executive appointment having been announced.
Guy Eden has been elected as Head of Product Management and will have cross asset responsibility, reporting to Igor Teleshevsky, a member of Traiana’s executive committee.
A Strong Year
Back in January this year, Traiana’s owner ICAP sold a 12% stake in the company to seven of Traiana’s leading customers, giving the business a valuation of $300 million. From this strong start, the firm began to invest in expanding its Harmony network for exchange traded derivatives, as a result of the rapid increase in demand from buy-side hedge funds and asset managers requiring the service. By June this year, twelve futures commissions merchants had gone live on this system.
Is the Market Entering a Commodities Supercycle?Go to article >>
Traiana’s CreditLink is a further example of a product aimed at supporting the institutional post-trade side, by providing prime brokers with a single system to connect credit monitoring.
CreditLink is composed of Designation Notice Manager (DNM), Tri-Party Limit Manager (TPL), and ECN Limit Manager (ELM). DNM is a means of electronically negotiating and establishing the Designation Notices between PBs and EBs on behalf of clients. TPL is a real time tool that determines credit utilization by comparing actual trade positions with the limits defined in DNM.
ELM is used to normalize credit monitoring across ECNs and provides the ability to terminate trading at a single ECN or across ECNs with a Kill Switch button.
Mr. Eden arrives at Traiana with a background in senior executive positions within the institutional sector, having previously Head of Product Management at the London Stock Exchange, where he was responsible for product management, development and customer support for UnaVista.
He joined the London Stock Exchange from Ipreo, the investment banking solutions provider. Prior to joining Ipreo much of Guy’s career was spent at SunGard, where he most recently had the role of Solutions Director.
Roy Saadon, co-founder of Traiana commented: “We are thrilled to welcome Guy and the expertise that he brings to Traiana. Guy will focus on creating scalable cross-asset processes, in addition to using his deep domain knowledge in the equities space, a key growth market for the company.”