Post-trade solutions provider Traiana has been furthering its reach this year, the most recent development having been this week with the launch of the company’s swap data repository service, demonstrating Traiana’s commitment to developing its presence outside the FX sector. The company is still committed to ensuring its importance in the FX industry and has announced its integration with FX Platform Provider TraderTools.
This integration represents another strategic partnership for Traiana this year, following last month’s alliance with FENICS Software in which management of reporting of OTC forex derivatives into swaps data repositories and clearing houses was facilitated.
The company made a very confident start to 2013, in January having been valued at $300 million subsequent to the sale of a 12% stake in the company being sold to seven of its leading customers, allowing the company to concentrate on expansion via partnerships and integrations of this nature.
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Long-established advanced platform developer TraderTools considers post-trade STP something of a corporate priority, this being the second strategic alliance this month along these lines, having connected with MarkitSERV to enhance its LightFX Software-as-a-Service deployments.
“TraderTools’ LightFX hosted FX trading service combined with Traiana’s robust, scalable and cost-effective STP solution helps streamline operations, reduce risk and capture new opportunities,” said Jill Sigelbaum, Head of FX and EVP Alliances and Business Development at Traiana. “Now, TraderTools subscribers will be able to process trades in real time without the overhead and risks associated with manual re-keying.”
“By integrating with Traiana, we make our next-generation FX trading platform available to the hundreds of financial institutions migrating to a cloud environment worldwide,” added Yaacov Heidingsfeld, CEO of TraderTools. “As a market innovator, it is incumbent upon us to keep abreast of the latest trends and participate in initiatives that bring the FX trading community closer together.”