Traiana, leading provider of post-trade solutions, announced today that it has extended Harmony's contract-for-difference (CFD) equity swap network to buy-side firms. A growing group of the world's leading buy-side firms are now connected to Harmony for complete CFD equity swap post-trade automation.
Harmony is already the largest CFD equity swap network in the world, and is used by twelve of the world's largest equity swap counterparties and over 60 executing brokers. Working together with these sell-side banks, all of which are counterparties to top buy-side firms, Harmony now automates the entire CFD equity swap lifecycle including trade give-ups, client-to-broker allocations and the client-to-bank swap confirmation processes. It provides a comprehensive client service solution for banks to extend to their clients, enhancing service and reducing cost, complexity and operational risk.
Roy Saadon, Co-Founder and General Manager of Harmony, Traiana, said: "We already have the network, the cross-asset capability, the global reach and a proven solution. That's why leading buy- and sell- side firms are choosing Harmony for their strategic post-trade CFD equity swap needs. We are grateful for the partnership of these sell- and buy-side firms in developing and growing our network, and are excited about the pace of its growth."
With the addition of CFD equity swap capability, Harmony now provides buy-side firms and their banks a cross-asset post-trade solution for FX and FX derivatives, exchange traded derivatives, CFD equity swaps and cash equities, including trade notifications, affirmations, give-ups, allocations, and confirmations.
The Traiana Harmony Network continues to grow in services and reach, now linking more than 500 global firms including major banks, prime brokers, buy-side firms, trading venues and technology partners. With one connection to the network, firms are connected to all of their trading relationships, significantly reducing complexity, increasing operational efficiency and reducing costs.