June 25, 2013

Twelve futures commission merchants (FCMs) are now live on Traiana using the Harmony Network for exchange-traded derivatives (ETDs), according to the company.

Traiana said there has been a rapid uptake of buy-side hedge funds and asset managers benefitting from the service, and that trade volume on the Traiana ETD ClientLink service has grown by a factor of 20 over the past 12 months.

Using Traiana Harmony, FCMs are able to provide real-time visibility of exchange traded derivatives trades to their clients, enhancing client service and increasing transparency, states the release. 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.

“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,” commented Nick Solinger, Head of ETD and OTC Products at Traiana in the release.

Traiana, an ICAP-owned company, provides global banks, broker dealers, buy side firms and trading platforms with services to monitor pre-trade risk and automate post-trading processing in listed and over-the-counter financial markets. Traiana's solutions and the Harmony Network are widely used for post-trade processing of foreign exchange, exchange traded derivatives, fixed income, credit default swaps and synthetic and cash equity transactions.

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Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in ...