Post trading flow solutions provider, Traiana, has announced that twelve FCMs are now connected on its Harmony Network for Exchange Traded Derivatives (ETDs). Traiana added that “ there has been a rapid uptake of buy-side hedge funds and asset managers benefitting from the service”, with trade volume on the Traiana ETD ClientLink service growing 20X over the past twelve months.
Explaining the benefits, Traiana stated that “FCMs are able to provide real-time visibility of exchange traded derivatives trades to their clients, enhancing client service and increasing transparency. At the same time, Traiana Harmony reduces operational risk by managing the entire reconciliation and allocation process in real-time and improves operational efficiency, providing STP connectivity to executing and clearing counterparties”. For Traiana, the news is part of the company’s expansion beyond its core FX network as well as entrance into pre-trade monitoring products
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On the news, Nick Solinger, Head of ETD and OTC Products at Traiana commented, “the expansion of the Harmony Network for Exchange Traded Derivatives underlines the clear advantages of the network for our customers: increased efficiency, lower risk and lower costs. We continue to work with our customers to achieve the best results in the post-trade space.”