Traiana Announces OTC FX Clearing Solution
- Traiana unveils OTC FX clearing solution
Traiana, leading provider of post-trade solutions, announced today that it is providing real-time Straight-Through-Processing (STP) Straight-Through-Processing (STP) Straight-Through-Processing (STP) is a type of execution, where the broker is forwarding the bulk of the flows it receives to the market. This is mostly to help speed up their respective transaction processing times.STP provides a means of ensuring that orders are processed in a “straight-through” fashion, devoid of delays and requotes. As its name suggests, the primary rational of STP is to allow brokers to have the same information be streamlined through a process across multiple points. Intui Straight-Through-Processing (STP) is a type of execution, where the broker is forwarding the bulk of the flows it receives to the market. This is mostly to help speed up their respective transaction processing times.STP provides a means of ensuring that orders are processed in a “straight-through” fashion, devoid of delays and requotes. As its name suggests, the primary rational of STP is to allow brokers to have the same information be streamlined through a process across multiple points. Intui Read this Term) connectivity through the Harmony network to parties wishing to link to central counterparties (CCPs). This solution will allow for connectivity and matching between executing banks, prime brokers, Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term platforms and CCPs for OTC foreign exchange (FX) trades. CME Clearing is the first CCP to connect to the Harmony network. Traiana Harmony already supports over 500 financial institutions, providing connectivity between prime brokers, executing brokers, buy-side firms and execution platforms for FX trades. The firm’s move to provide connectivity between CCPs and FX market participants is an extension of Traiana’s existing post-trade workflow solutions for the FX marketplace. Gil Mandelzis, CEO, Traiana, said, “Traiana already has the expertise, knowledge and live applications to automate NDFs and FX options post- trade, and is the leader in providing such services to the industry today. We are working closely with our clients and partners to expand these services to cover CCP related flows while maintaining the integrity of the connection and a consolidated view. We are pleased to be working with CME Clearing as our first CCP partner to connect.” Roger Rutherford, CME Group’s Managing Director of FX products, said, “CME Group has made significant steps towards developing a clearing solution for the OTC FX market, both interbank and client, and has been working closely with many participants from all areas of the FX industry. We are delighted to be the first central counterparty that is linked to Harmony, knowing that with the connection, we are making our service available to many participants in the market. We look forward to working together to process live trades in the coming months.” About Traiana Inc. Traiana Inc. (www.traiana.com) provides global banks, broker/dealers, buy-side firms and e-trading platforms with solutions to automate post-trade processing of financial transactions. Traiana's post-trade solutions and the Harmony Network are used by over 500 of the world's leading financial market participants and have become the market standard for post-trade processing of foreign exchange, exchange traded derivatives, cash equities, and CFD equity swap transactions. Traiana, an ICAP company, is headquartered in New York City with offices in London, Chicago, Tel Aviv and Tokyo.
Traiana, leading provider of post-trade solutions, announced today that it is providing real-time Straight-Through-Processing (STP) Straight-Through-Processing (STP) Straight-Through-Processing (STP) is a type of execution, where the broker is forwarding the bulk of the flows it receives to the market. This is mostly to help speed up their respective transaction processing times.STP provides a means of ensuring that orders are processed in a “straight-through” fashion, devoid of delays and requotes. As its name suggests, the primary rational of STP is to allow brokers to have the same information be streamlined through a process across multiple points. Intui Straight-Through-Processing (STP) is a type of execution, where the broker is forwarding the bulk of the flows it receives to the market. This is mostly to help speed up their respective transaction processing times.STP provides a means of ensuring that orders are processed in a “straight-through” fashion, devoid of delays and requotes. As its name suggests, the primary rational of STP is to allow brokers to have the same information be streamlined through a process across multiple points. Intui Read this Term) connectivity through the Harmony network to parties wishing to link to central counterparties (CCPs). This solution will allow for connectivity and matching between executing banks, prime brokers, Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term platforms and CCPs for OTC foreign exchange (FX) trades. CME Clearing is the first CCP to connect to the Harmony network. Traiana Harmony already supports over 500 financial institutions, providing connectivity between prime brokers, executing brokers, buy-side firms and execution platforms for FX trades. The firm’s move to provide connectivity between CCPs and FX market participants is an extension of Traiana’s existing post-trade workflow solutions for the FX marketplace. Gil Mandelzis, CEO, Traiana, said, “Traiana already has the expertise, knowledge and live applications to automate NDFs and FX options post- trade, and is the leader in providing such services to the industry today. We are working closely with our clients and partners to expand these services to cover CCP related flows while maintaining the integrity of the connection and a consolidated view. We are pleased to be working with CME Clearing as our first CCP partner to connect.” Roger Rutherford, CME Group’s Managing Director of FX products, said, “CME Group has made significant steps towards developing a clearing solution for the OTC FX market, both interbank and client, and has been working closely with many participants from all areas of the FX industry. We are delighted to be the first central counterparty that is linked to Harmony, knowing that with the connection, we are making our service available to many participants in the market. We look forward to working together to process live trades in the coming months.” About Traiana Inc. Traiana Inc. (www.traiana.com) provides global banks, broker/dealers, buy-side firms and e-trading platforms with solutions to automate post-trade processing of financial transactions. Traiana's post-trade solutions and the Harmony Network are used by over 500 of the world's leading financial market participants and have become the market standard for post-trade processing of foreign exchange, exchange traded derivatives, cash equities, and CFD equity swap transactions. Traiana, an ICAP company, is headquartered in New York City with offices in London, Chicago, Tel Aviv and Tokyo.