Traiana To Match And Affirm FX Trades With LCH.Clearnet Via Harmony CCP Connect
- Pre and post-trade processing solutions company Traiana has today announced that its Harmony CCP Connect network now supports FX derivative client cleared trades at LCH.Clearnet as a result of direct connectivity.

Pre and post-trade processing solution company Traiana has today announced that it is now able to match and affirm FX derivative client trades with LCH.Clearnet Ltd’s (LCH.Clearnet) ForexClear service via its Harmony CCP Connect cross-institution network that connects PBs, EBs and buy-side clients.
With this service, the Harmony CCP Connect intends to provide a comprehensive workflow solution via the Harmony network which can be used for both interdealer and client clearing, including CCP connectivity, trade routing, affirmation, matching, allocation, and reporting for OTC FX options and NDFs.

According to Traiana, this is the first middleware solution to be able to perform this function, following the establishment of direct connectivity with the clearing house in July this year.
Since its inception, Harmony members have been provided with the ability to have a single connection to a messaging hub which ensures that trades can be submitted in the sender’s preferred format and delivered to each recipient in their preferred setup.
A highly complex matter, trade matching and affirmation is a resource-hungry business, with Traiana's remit encompassing a range of criteria for each transaction, as investigated by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term Magnates in a detailed insight into post-trade order flow in May this year.
Beyond the basics of price, size and instrument, a broker needs to report on a huge array of details. Such information can include the trade counterparty and on whose behalf the execution was made, whether it is a direct trade or a prime brokered trade, or whether it was executed on an anonymous or disclosed platform.
With regard to the company's supporting of FX derivative client cleared trades at LCH.Clearnet, Andy Coyne, CEO of Traiana made a corporate statement today that: “We are extremely pleased to have been the first to match and affirm trades through our link with LCH.Clearnet on the day that the ForexClear client clearing service went live. The success of clearing these first client trades underlines our commitment to help our clients meet their regulatory responsibilities.”
Gavin Wells, CEO of LCH.Clearnet’s ForexClear, further added: “Traiana’s Harmony CCP Connect is an integral part of the clearing workflow. We are delighted with the efficient processing of the first trades through ForexClear’s service for clients.”
Mr. Wells had detailed his professional opinion to Forex Magnates on the importance of correctly matching and dealing with trade data in June, during a discussion panel regarding the Dodd-Frank rulings in which senior institutional FX figures discussed the ramifications of trade reporting and processing once the entire set of rulings had been implemented. “If you are revealing large trades to a public environment it is important to take into account methods of proper calibration," explained Mr. Wells.
"Bringing in a calibrated system over time is the way to go. There has already been some loss of the data being made transparent, and migrating steadily will mitigate the risk of lost data,” he concluded.
Harmony CCP Connect also provides a gateway to other leading FX infrastructure operators, ensuring participants can use their preferred trading, allocation and confirmation venues with complete interoperability.
The solution supports all proposed US and European clearing rules and workflows, and according to Traiana, aims to simplify compliance for FX clearing firms and their clients.
Pre and post-trade processing solution company Traiana has today announced that it is now able to match and affirm FX derivative client trades with LCH.Clearnet Ltd’s (LCH.Clearnet) ForexClear service via its Harmony CCP Connect cross-institution network that connects PBs, EBs and buy-side clients.
With this service, the Harmony CCP Connect intends to provide a comprehensive workflow solution via the Harmony network which can be used for both interdealer and client clearing, including CCP connectivity, trade routing, affirmation, matching, allocation, and reporting for OTC FX options and NDFs.

According to Traiana, this is the first middleware solution to be able to perform this function, following the establishment of direct connectivity with the clearing house in July this year.
Since its inception, Harmony members have been provided with the ability to have a single connection to a messaging hub which ensures that trades can be submitted in the sender’s preferred format and delivered to each recipient in their preferred setup.
A highly complex matter, trade matching and affirmation is a resource-hungry business, with Traiana's remit encompassing a range of criteria for each transaction, as investigated by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term Magnates in a detailed insight into post-trade order flow in May this year.
Beyond the basics of price, size and instrument, a broker needs to report on a huge array of details. Such information can include the trade counterparty and on whose behalf the execution was made, whether it is a direct trade or a prime brokered trade, or whether it was executed on an anonymous or disclosed platform.
With regard to the company's supporting of FX derivative client cleared trades at LCH.Clearnet, Andy Coyne, CEO of Traiana made a corporate statement today that: “We are extremely pleased to have been the first to match and affirm trades through our link with LCH.Clearnet on the day that the ForexClear client clearing service went live. The success of clearing these first client trades underlines our commitment to help our clients meet their regulatory responsibilities.”
Gavin Wells, CEO of LCH.Clearnet’s ForexClear, further added: “Traiana’s Harmony CCP Connect is an integral part of the clearing workflow. We are delighted with the efficient processing of the first trades through ForexClear’s service for clients.”
Mr. Wells had detailed his professional opinion to Forex Magnates on the importance of correctly matching and dealing with trade data in June, during a discussion panel regarding the Dodd-Frank rulings in which senior institutional FX figures discussed the ramifications of trade reporting and processing once the entire set of rulings had been implemented. “If you are revealing large trades to a public environment it is important to take into account methods of proper calibration," explained Mr. Wells.
"Bringing in a calibrated system over time is the way to go. There has already been some loss of the data being made transparent, and migrating steadily will mitigate the risk of lost data,” he concluded.
Harmony CCP Connect also provides a gateway to other leading FX infrastructure operators, ensuring participants can use their preferred trading, allocation and confirmation venues with complete interoperability.
The solution supports all proposed US and European clearing rules and workflows, and according to Traiana, aims to simplify compliance for FX clearing firms and their clients.