Traiana, leading provider of post-trade solutions, announces today that Traiana Harmony has been certified by CME Group for the submission of OTC FX Derivatives for clearing.
As the first to complete the CME Group certification process, Traiana customers can now clear OTC FX derivatives using the Harmony CCP Connect solution.
Harmony CCP Connect provides a comprehensive solution for OTC FX clearing, including connectivity, workflow automation, trade matching and affirmation. With a single connection to Harmony, it provides access to all CCPs, thus lowering costs and complexity for market participants. The solution supports all proposed US and European clearing rules and workflows, simplifying compliance for FX clearing firms and their clients.
Gil Mandelzis, CEO, Traiana, said, "We're very grateful for the close collaboration with CME Group and the support of our customers. Linking Traiana Harmony and CME Group will reduce costs and complexity for the FX industry."
Roger Rutherford, CME Group's Managing Director of FX Products, said, "We continue to work closely with all market participants on providing clearing services for a variety of foreign exchange instruments. Connecting to Traiana Harmony helps us extend our clearing services more effectively to the global FX market."