First trade on Traiana’s Harmony CCP Connect link to LCH.Clearnet processed

29 July 2013

Traiana has delivered the first interdealer non deliverable forward (NDF) trade to LCH.Clearnet’s ForexClear service, via the recently-established link with Traiana’s Harmony CCP Connect.

The trade was a US dollar / South Korean won (USD/KRW) NDF with HSBC as one of the trading parties. The link-up was established to reflect the central counterparty (CCP) clearinghouse changes coming into effect on global financial markets as Dodd-Frank in the US and European Market Infrastructure Regulation (EMIR) bite.

“We are pleased to announce that trades are being successfully matched on CCP Connect and delivered to LCH.Clearnet for clearing,” said Andrew Coyne, chief executive of Traiana. “Traiana built direct connectivity to LCH.Clearnet’s ForexClear at the specific request of our client base, so we're very excited at how quickly the service has been adopted.”

Gavin Wells, head of LCH.Clearnet’s ForexClear service, added: “The swift take-up of our link with Traiana is testament to the strong demand from the market for solutions to meet regulatory requirements.”

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