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CFD Service Migrates to Traiana

Today Traiana announced that ICAP’s equity Contract-for-Difference (CFD) service, known as “MBA Confirms.Info”, which connects equity brokers and prime brokers to automate CFD give-ups, has been transferred to the Traiana subsidiary operationally. As part of this transition, the service has been integrated into Traiana Harmony to take advantage of synergies for customers on the Traiana Harmony post-trade network. The equity CFD service is immediately available to all Harmony users, as well as the broader buy- and sell-side community.

Ten of the world’s largest prime brokers and 60 executing brokers are currently using the service. With the global scale and resources of Harmony, the network will be able to more rapidly expand to additional brokers.

As a result of this change, new and existing CFD brokers, prime brokers and their buy-side clients will also benefit from Harmony’s flexible real-time messaging capability, which seamlessly connects a network of over 500 market participants across equity derivatives, equities, futures and foreign exchange trading. Harmony reduces the risk for human error, streamlines post trade processes to open up capacity and lower costs, and moves CFD give-ups to a real-time process between executing and prime brokers while ensuring the anonymity of the underlying client.

Roy Saadon, Co-Founder and General Manager of Harmony at Traiana, says “Harmony was launched to support prime brokerage trading and lower costs and unlock trading opportunities by moving post-trade to a real-time trade-by-trade model. Our move into equity derivatives is a natural extension of that approach”.