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Traiana boosts allocations and confirmation service with State Street partnership

11 May 2010  |  2498 views  |  0 Source: Traiana

Today Traiana announced that Traiana Harmony's post-trade network for allocations and confirmations will be combined with State Street's Global Trading Support Services (GTSS) trade confirmation network.

With the addition of GTSS' confirmation capability, the enhanced solution, Harmony ClientLink, will now provide integrated straight-through processing, matching, affirmations and confirmations to sell-side banks and their clients. It will also immediately support the entire range of products including FX spot, forwards, options, non-deliverable forwards and also precious metals. GTSS clients will be migrated onto the solution and will benefit from the state-of-the-art technology, expanded functionality and product coverage available from Traiana Harmony.

Traiana's sell-side customers will benefit from a comprehensive post-trade solution and an expanded network, resulting in simplified and streamlined post-trade processes, reduced operational risk, and improved client service.

Following the launch of the solution for FX, State Street and Traiana will continue to enhance the confirmation service by expanding this functionality across additional asset classes.

Gil Mandelzis, CEO of Traiana, says "Confirmation processing remains a costly and complex process for global banks and buy-side firms, with the proliferation of confirmation venues and processes only worsening the situation. By working together with State Street and our major clients, we can now realize the opportunity to electronically confirm all FX products in real-time, reducing costs and risk in FX markets and opening up greater trading opportunities".

The combined solution will be immediately available to the broad buy- and sell-side community, and ultimately will be available across multiple asset classes.

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