Traiana, leading provider of post-trade solutions, announced today that it is certified to provide real-time connectivity to IntercontinentalExchange (NYSE: ICE), a leading operator of global over-the-counter (OTC) markets, clearing houses and regulated futures exchanges. The addition of ICE to Traiana Harmony CCP Connect now gives prime brokers, executing banks and buy-side firms access to every clearing house which has announced support for clearing of foreign exchange (FX) derivatives.
Harmony CCP Connect provides a comprehensive workflow solution for client clearing via the Harmony network, including CCP connectivity, trade routing, affirmation, matching, allocation, and reporting for centrally cleared OTC FX options and non-deliverable forwards (NDFs). With a single connection, Harmony CCP Connect can provide access to all CCPs, lowering costs and complexity for market participants. Harmony CCP Connect also provides a gateway to other leading FX infrastructure operators, ensuring clients can use their preferred trading, allocation and confirmation venues. 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, “ICE is an important partner for Traiana and our customers. Adding ICE to the Harmony Network further extends our reach, lowering the costs and barriers to comply with the new regulations in FX.”
Tom Farley, President, ICE Futures U.S., said, “As a leader in workflow solutions, Traiana is working closely with us to deliver client clearing capability for the FX market to the prime brokerage firms and their clients. By extending our OTC clearing expertise into a third asset class, we are supporting our respective customers' ability to meet financial reform requirements. And by linking to Traiana Harmony we will be able to extend our clearing services more flexibly, rapidly and at lower cost to the global FX market.”