Post-trade and risk solutions provider Traiana has today announced that it has expanded Harmony ClientLink’s cross-asset capability to the equities and fixed income markets with a number of leading brokers.
As a result, Harmony ClientLink, the firm’s institutional straight-through-processing solution (STP), now offers a fully comprehensive cross-asset and allocation platform to banks, brokers and buy-side firms.
This will automate allocation, confirmation and matching processes and has more than 1,000 client connections across FX, exchange traded derivatives, equity swaps, cash equities and fixed income.
This expansion represents a further display of Traiana’s intention to expand its reach beyond the FX space, following its creation of the Harmony cross-institution network that connects prime brokers, EBs and buy-side clients.
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Expansion: FX and Beyond
As more and more buy-side firms are standardizing their processes using protocols such as FIX and SWIFT as a result of which industry messaging standard FIX Protocol began its entry into the post-trade space early this year, Harmony ClientLink offers an integrated FIX and SWIFT gateway to support these changing client technology demands. ClientLink enables the broker to maintain internal STP regardless of client messaging preference and without any internal system development.
Featuring a new message transformation infrastructure, clients can be set up in minutes to send and receive their trade information in their own format and language, including any structured or unstructured message type, including formats such as e-mail, PDF, CSV or proprietary formats used by many others.
Roy Saadon, Co-Founder and Head of EMEA, Traiana said in a corporate statement: “As buy-side clients continue to move from legacy electronic trade confirmation services towards standards like the FIX protocol, brokers are looking for rapid and cost efficient services such as Harmony ClientLink to help facilitate this transition and reduce costs for the market.”