16 September 2014

Traiana upgrades cross-asset matching engine

13 August 2014  |  1349 views  |  0 Source: Traiana

Traiana, the leading provider of pre-trade risk and post-trade processing solutions, announces today it has launched the next generation of its post-trade cross-asset allocation, matching and confirmation service for both buy- and sell-side firms.

Harmony Securities is available across various products, including cash equities, equity swaps, corporate and government bonds, municipal bonds and treasury bills, and has been designed to meet industry processing requirements as well as forthcoming regulatory changes, such as T+2 settlement.

The recent 300% growth in the number of participants combined with volume growth of over 1000% (July 2013-July 2014) on the Harmony network for equities and fixed income demonstrates the industry need for a new methodology in securities post-trade processing. For instance, as some large asset managers have now adopted the FIX 4.4 protocol for their post-trade process, Harmony provides brokers with a streamlined infrastructure that normalises and enriches messaging, regardless of client choice of protocol. The solution increases operational efficiency, while removing the IT burden of point-to-point FIX testing.

Specifically, Harmony Securities provides same-day cross-asset trade allocation, matching and confirmations via low latency processing. The enhanced post-trade matching service provides firms with increased flexibility in matching schema catering for all types of trading strategies, including combinations of cash and synthetic-equity allocations and many-to-many matching.

The launch of Harmony Securities builds on the success of Traiana's Harmony Equity Swaps network, the most extensive post-trade bilateral and tri-party matching service for executing brokers, prime brokers and buy-side firms. The give-up network volume on Harmony Equity Swaps is now achieving record month-on-month growth, with volumes doubling since July 2013.

Roy Saadon, Co-Founder and Head of EMEA, Traiana, commented: "The growth of our Harmony Securities network means our clients can now use one platform for their post-trade trading activity, across asset classes, and across the global markets. Our sell-side participants are servicing EMEA cash equity flow alongside APAC synthetic flow over the same singular platform. Our participants are shielded from bespoke investment in a client specific FIX based workflow, while offering the controls of real-time matching to their entire client base. By delivering same-day trade affirmation and trade matching, Harmony reduces both operational and counterparty risk as well as the risk of settlement failure." 

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