Traiana’s Harmony CCP Connect is a network tool designed to make interdealer and client clearing easier by linking up CCP connectivity, trade routing, affirmation, matching, allocation and reporting for OTC foreign exchange options and NDFs. The trade was a US dollar / South Korean won (USD/KRW) NDF with … Used by some of the largest equity broker dealers, the interoperable solution matches and clears OTC equity trades at the preferred Traiana will be the first external matching provider to offer access to the new service, which is available to all Harmony CCP Connect participants, the firm’s global network that processes Forex, equities, equity derivatives, fixed income and exchange traded derivatives. Market participants can now access HKEXs OTC Clear service to clear USD/CNH and USD/HKD FX forward and swaps, via Traiana's Clearing Hub (CCP Connect), which … Traiana, the leading provider of post-trade and risk solutions, announces today the launch of Harmony CCP Connect for Equities and the successful completion of its first trade. Such trades will include equity contract for difference (CFD) related hedging trades. Existing Traiana clients and electronic trading venues can enable the HKEX clearing workflow as an add-on to their existing Traiana FX post-trade processing services. Traiana CEO Andrew Coyne says the CCP Connect service is committed to working with all FX market participants to ensure they have the ability to adapt to evolving global regulations. Traiana said it already has a number of major equity broker dealers using Harmony, including Credit Suisse, Deutsche Bank, Instinet and JP Morgan. Used by some of the largest equity broker dealers, the interoperable solution matches and clears OTC equity trades at the preferred 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. “By connecting to Harmony CCP Connect, our clients will have seamless access to the FX clearing organizations, and the ability to better manage their bilateral exposures and their counterparty risk,” says Singh. Harmony TR Connect will interoperate with Traiana’s Harmony CCP Connect service, which covers the workflow for client clearing including CCP connectivity, trade routing, affirmation, matching, allocation and reporting for centrally cleared OTC FX options and non-deliverable forwards. Harmony CCP Connect for Equities – the Traiana solution that automates the central clearing of OTC equity trades – was launched in October 2014. Traiana’s launch of Harmony CCP Connect for Equities provides efficiency and cost savings as CCPs net these transactions alongside existing on-exchange flow, reducing the cost of settlement. Traiana EquityClear offers members clearing of OTC equity trades from the Traiana Harmony CCP Connect for Equities service, a trade matching service for OTC business. The two bank have joined the Harmony CCP Connect platform, which looks to offer netting benefits to market participants through the automated central clearing of OTC equity trades. Traiana estimates that participants could reduce settlement costs for OTC equity trades in EMEA by up to $30 million on an annual basis. "We are very happy to be working with Traiana," said Jacky Mak, Head of OTC and FIC Business Development in HKEX's Clearing Division. Harmony CCP Connect for Equities – the Traiana solution that automates the central clearing of OTC equity trades – was launched in October 2014. EBS CEO Gil Mandelzis, who co-founded Traiana, adds that CCP Connect is the most versatile clearing house connectivity system for EBS.
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