Elysium Technology Group, a post-trade solutions provider for foreign exchange (FX) and futures, has entered into a strategic partnership with TradAir, to jointly launch a newly collaborated solution geared for buy- and sell-side customers, according to an Elysium statement.
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The decision to partner with TradAir, a provider of cloud-based front-office e-FX trading optimization solutions, helps reinforce a newly implemented front and back-office utility. The new solution is already live for select clients and features a coalescence between TradAir White Label Solution and Elysium Mission Control.
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Elysium’s Mission Control is a cloud-based utility that helps monitor and track live positions, trades, credit, reconciliation and P&L across multiple prime brokers and execution platforms. The alliance is noteworthy as it helps aggregate the two respective offerings in an attempt to help maximize the capabilities and scope of the solution for clients.
Per the partnership, both platforms will be delivered through a hybrid-hosting model that resides in the Amazon cloud and Equinix data centers. The joint offering looks to be the first iteration of a cooperation between Elysium and TradAir, which aims to collectively expand their product lineups throughout 2016.
According to Brian Andreyko, Head of Strategy and Corporate Development at TradAir, in a recent statement on the partnership: “Elysium Technology Group is an ideal partner for TradAir, as we are both dedicated to providing innovative technology and can combine our respective expertise to create superior front to back FX solutions. We anticipate a strong and mutually beneficial relationship as we deliver best in class solutions to the FX community.”
“We have found tremendous synergies between our business strategies and FX technology solutions. I am confident that we can both add value to each other’s client offerings. Like Brian, I look forward to developing our alliance and bringing together our talent and proficiency to take advantage of new market opportunities,” added Roque Castro, Head of Business Development for Elysium, in an accompanying statement.