trueEX Splinters Post-Trade Execution Platform into Sovereign Entity
- trueEX’s decision to disaggregate its post-trade execution business into a sovereign legal entity will aim to foster greater efficiency.
trueEX, a growing swap Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term facility, has splintered its processing services away from its derivatives trade execution platform to help lend greater efficiency to its operations, according to a trueEX statement.
trueEX’s decision to disaggregate its post-trade execution business into a sovereign legal entity comes amidst a period of rapid expansion for the group as well as a bid to maintain more cost efficient independent post-trade solutions.
Furthermore, the newly forged entity will enable truePTS to offer allocations, instant status notification, as well as other processing capabilities to a full range of market participants, far beyond clients opting for the traditional trueEX swap execution facility (SEF). Consequently, truePTS will now extend its post-trade services to an assortment of dealers, Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term firms, clearing firms, inter-dealer brokers and clearinghouses.
The truePTS service is an execution venue, which will also be providing full straight-through processing (STP) across eighteen currencies via direct access to both LCH.Clearnet and CME Group, effective immediately. Finally, truePTS is also slated to offer an end-of-day average pricing in H1 2016.
According to Sunil Hirani, CEO of trueEX, in a recent statement on the divergence, “There is a fundamental need to simplify and rationalize the operational mess that is swaps processing. Most of the infrastructure that is in use today was designed and built prior to Dodd-Frank, before the need for pre-trade credit approvals and the existence of directly connected solutions such as truePTS."
Earlier this year, trueEX appointed Saro Jahani as its Chief Information Officer (CIO), amidst a period of rampant growth at the company. In his new role as CIO, Mr. Jahani has since navigated the entire IT operations at the group, which has included development and QA components. Prior to joining TrueEX, Mr. Jahani worked at Direct Edge as CIO, where he headed technological innovation.
trueEX, a growing swap Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term facility, has splintered its processing services away from its derivatives trade execution platform to help lend greater efficiency to its operations, according to a trueEX statement.
trueEX’s decision to disaggregate its post-trade execution business into a sovereign legal entity comes amidst a period of rapid expansion for the group as well as a bid to maintain more cost efficient independent post-trade solutions.
Furthermore, the newly forged entity will enable truePTS to offer allocations, instant status notification, as well as other processing capabilities to a full range of market participants, far beyond clients opting for the traditional trueEX swap execution facility (SEF). Consequently, truePTS will now extend its post-trade services to an assortment of dealers, Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term firms, clearing firms, inter-dealer brokers and clearinghouses.
The truePTS service is an execution venue, which will also be providing full straight-through processing (STP) across eighteen currencies via direct access to both LCH.Clearnet and CME Group, effective immediately. Finally, truePTS is also slated to offer an end-of-day average pricing in H1 2016.
According to Sunil Hirani, CEO of trueEX, in a recent statement on the divergence, “There is a fundamental need to simplify and rationalize the operational mess that is swaps processing. Most of the infrastructure that is in use today was designed and built prior to Dodd-Frank, before the need for pre-trade credit approvals and the existence of directly connected solutions such as truePTS."
Earlier this year, trueEX appointed Saro Jahani as its Chief Information Officer (CIO), amidst a period of rampant growth at the company. In his new role as CIO, Mr. Jahani has since navigated the entire IT operations at the group, which has included development and QA components. Prior to joining TrueEX, Mr. Jahani worked at Direct Edge as CIO, where he headed technological innovation.