CME is still very much focused on taking over the retail forex market (with the generous help of the CFTC) in the US and adding Traiana’s in due time may appeal to large forex trading clients and retail brokers like FXCM.
Traiana, leading provider of post-trade solutions, announces today that Traiana Harmony has been certified by CME Group for the submission of OTC FX Derivatives for clearing. As the first to complete the CME Group certification process, Traiana customers can now clear OTC FX derivatives using the Harmony CCP Connect solution.
Harmony CCP Connect provides a comprehensive solution for OTC FX clearing, including connectivity, workflow automation, trade matching and affirmation. With a single connection to Harmony, it provides access to all CCPs, thus lowering costs and complexity for market participants. The solution supports all proposed US and European clearing rules and workflows, simplifying compliance for FX clearing firms and their clients.
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Gil Mandelzis, CEO, Traiana, said, “We’re very grateful for the close collaboration with CME Group and the support of our customers. Linking Traiana Harmony and CME Group will reduce costs and complexity for the FX industry.”
Roger Rutherford, CME Group’s Managing Director of FX Products, said, “We continue to work closely with all market participants on providing clearing services for a variety of foreign exchange instruments. Connecting to Traiana Harmony helps us extend our clearing services more effectively to the global FX market.”
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.