Interdealer broker Icap has connected its electronic currency trading platform EBS to the Harmony FX post trade processing network it acquired through its buy out of Traiana.
Icap, which completed its buy out of FX settlement outfit Traiana earlier this week, says the move will enable FX trading banks to access the EBS system and Harmony's post-trade services through a single direct connection.
Previously, the EBS distributed architecture required each branch of a bank to build and maintain a separate connection to the Traiana Harmony system. But now the EBS platform has added a new central interface so Traiana Harmony receives a real-time feed from EBS' three matching engines around the globe.
As a result, Harmony can offer banks a single, central view of all their spot FX electronic trading from across EBS and other spot FX execution platforms, says Icap, and customers will also be able to manage and view trading flow without needing to maintain individual dedicated servers behind a firewall.
Bill Moran, global head of post trade services at Icap, says: "We have invested in our technology to make it easier for our customers to reap the benefits of Traiana's post-trade services without having to scope and plan their own direct connection to the system."
Moran says EBS customers using Traiana's ticket netting engine NetLink will get an immediate benefit as their implementation costs and times will be reduced substantially.