Kevin Milne, Chief Executive, XtrakterÂ® commented âTRAXÂ® v2.9 has been developed in conjunction with the TRAXÂ® community over the last 12 months. The latest version offers users access to a wide range of new functionality, helping them to further decrease their operational costs. We aim to continue working with our clients to make the TRAX system even better and plan to enhance our STP capabilities going forward into 2009.â
TRAXÂ® is the leading post-trade, pre-settlement, trade matching & regulatory confirmation system in use by the OTC market. TRAXÂ® has been operating successfully since 1989 and has over 200 subscribers located globally. TRAXÂ® processes on average 1.5 million transactions daily.
TRAXÂ® v2.9 offers clients the following new benefits:
â¢ New active / passive confirmation model
â¢ Netting and pair-off reports
â¢ Enhanced SSI functionality
â¢ New audit tracking (improved compliance)
â¢ New user roles and profiling (improved security)
â¢ Post trade services reports
â¢ Repo pair-offs
â¢ Netting of cash & repo transactions
âWeâve been in extensive dialogue with members of the TRAX community over the last year about how we can assist them to reduce their operational risk, costs and improve system efficiency. TRAXÂ® v2.9 delivers a range of solutions to meet their needs. In particular, the new netting and pair off functionality will assist the TRAXÂ® community to make considerable savings by flagging opportunities for them to net or pair off trades throughout the trading day,â said Graeme Austin, Director, Product Management XtrakterÂ®.