TeraExchange, a multifaceted exchange specializing in CDs, forex and derivatives, has announced its partnership with Traiana CreditLink, the comprehensive, real-time platform for pre and post-trade clearing, via a TeraExchange company statement.
TeraExchange offers a central limit order book platform for a variety of asset classes that is fully compliant with the transparency and regulatory measures. As such, the newly announced accord gives TeraExchange clients the option to choose between the duality of TeraCheck; its internal pre-trade credit mechanism, or Traiana’s CreditLink. Like its TeraExchange counterpart, the CreditLink operation supports a plethora of asset classes, including OTC FX, exchange traded derivatives, and swaps – ultimately, both operations effectively manage and grapple the rigors of real-time trading and clearing.
Market Participants Afforded Newfound Flexibility
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According to Christian Martin, CEO of TeraExchange, in a recent statement on the operations accord, “It has always been mission-critical for TeraExchange to provide controls for risk taking in our marketplace. Repeatable and dependable risk procedures and protocols create firm and deep markets. Through TeraCheck and our partnership with Traiana we provide clearing members and market participants even more flexibility in achieving those goals.”
Indeed, while there are subtle differences between the two functions, both TeraCheck and CreditLink afford market participants access to a robust suite of operations and clearing mechanisms. This is reflective in the ability to pre-screen orders and executions in order to prevent delays at the time of execution.
New Initiative Fully Compliant with CFTC Regulations
The banner of regulation has seemingly served as the impetus for the partnership, with transparency being a targeted goal. “TeraExchange is a welcome addition to the Traiana network. For over a year, we have been building Traiana CreditLink for the swaps industry so participants trading on SEFs would be compliant with new CFTC regulations.” added Nick Solinger, Head of Product Strategy and Chief Marketing Officer at Traiana.