Traiana launches Harmony CCP Connect for Equities and completes first trade, with Credit Suisse, J.P. Morgan, Instinet, LCH.Clearnet and EuroCCP listed by ICAP as initial participants of the network.
Earlier in the week when reporting about ICAP’s Euclid Opportunities Fund increasing its equity investment in ENSO LP as part of their increased involvement with consulting and trading optimization products. Another area of expansion has been with the firm’s Traiana settlement business. Initially providing cross institution and venue settlement of FX trades via its Harmony network, Traiana has been expanding to other asset classes as well as counterparty Clearing.
Following on the expansion, Traiana announced that their new Harmony Clearing network has cleared its first equity CFD trade. ICAP didn't provide the participants of the initial trade, but launch members of the network include Credit Suisse, JP Morgan, the Instinet platform, and clearing firms LCH Clearnet and EuroCCP. Although post-trade reporting for clearing and settlement typically falls into the lesser known and often called ‘boring’ back office part of trading, it is the infrastructure for connecting different financial institutions trading among multiple platforms and exchanges. In regards to FX, the Harmony network provides aggregated settlement (referred to as trade compression by Traiana) of positions to reduce costs and allow for smaller transactions sizes to be quoted, and has been attributed to helping lead to declining spreads over the last three years.
Similarly, in regards to Harmony’s equity central clearing network, the goal is to reduce counterparty risk, increase transparency and assist in achieving T+2 settlement through trade compression. The overall efficiency is also expected to reduce net costs of transactions conducted between parties.
Commenting in ICAP’s public statement, Adam Toms, CEO of Instinet, referred to the cost advantages of the new product as he said, “Equities settlement is still costly and can be inefficient. Increasing efficiency in this process and enabling clearing will reduce risk and costs in the market. Working with Traiana and the CCPs will help achieve this goal."
Roy Saadon, Head of EMEA and co-Founder of Traiana, added, “Traiana is proud to be chosen as a partner to the equities community in bringing this solution to market. In a period of regulatory change and cost reduction, moving OTC equity trades to a centrally cleared model that also provides netting benefits, represents a fundamental improvement to the structure of equities markets.”
Earlier in the week when reporting about ICAP’s Euclid Opportunities Fund increasing its equity investment in ENSO LP as part of their increased involvement with consulting and trading optimization products. Another area of expansion has been with the firm’s Traiana settlement business. Initially providing cross institution and venue settlement of FX trades via its Harmony network, Traiana has been expanding to other asset classes as well as counterparty Clearing.
Following on the expansion, Traiana announced that their new Harmony Clearing network has cleared its first equity CFD trade. ICAP didn't provide the participants of the initial trade, but launch members of the network include Credit Suisse, JP Morgan, the Instinet platform, and clearing firms LCH Clearnet and EuroCCP. Although post-trade reporting for clearing and settlement typically falls into the lesser known and often called ‘boring’ back office part of trading, it is the infrastructure for connecting different financial institutions trading among multiple platforms and exchanges. In regards to FX, the Harmony network provides aggregated settlement (referred to as trade compression by Traiana) of positions to reduce costs and allow for smaller transactions sizes to be quoted, and has been attributed to helping lead to declining spreads over the last three years.
Similarly, in regards to Harmony’s equity central clearing network, the goal is to reduce counterparty risk, increase transparency and assist in achieving T+2 settlement through trade compression. The overall efficiency is also expected to reduce net costs of transactions conducted between parties.
Commenting in ICAP’s public statement, Adam Toms, CEO of Instinet, referred to the cost advantages of the new product as he said, “Equities settlement is still costly and can be inefficient. Increasing efficiency in this process and enabling clearing will reduce risk and costs in the market. Working with Traiana and the CCPs will help achieve this goal."
Roy Saadon, Head of EMEA and co-Founder of Traiana, added, “Traiana is proud to be chosen as a partner to the equities community in bringing this solution to market. In a period of regulatory change and cost reduction, moving OTC equity trades to a centrally cleared model that also provides netting benefits, represents a fundamental improvement to the structure of equities markets.”
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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