New York, January 28, 2014. Javelin SEF announced today that it is now live with Traiana’s CreditLink service for real time pre-trade credit checks on interest rate swap trades.
Current CFTC rules require clearing firms who clear interest rate swaps to check their customer orders on newly created Swap Execution Facilities, or “SEFs”, for available credit before a trade can be executed.
“In advance of Javelin’s MAT next month, we are pleased to offer Traiana’s CreditLink solution to Javelin customers,” said James Cawley, Javelin CEO.
CreditLink offers Javelin customers a single point of connectivity between the Javelin trading platform and multiple clearing firms. Customers can now onboard to Javelin more efficiently and seamlessly.
CreditLink acts as a centralized hub between trading platforms and clearing firms. Creditlink currently connects to 16 clearing firms.
John Burchenal, Global Head of Alliances & Partners at Traiana said: “We are delighted that Javelin is joining the Traiana CreditLink network to verify pre-trade credit checks for its customers. Traiana is committed to helping market participants trading on SEFs to be compliant with the latest regulations.”
Javelin SEF, LLC is a subsidiary of Javelin Capital Markets, LLC which was founded in 2009. Javelin Capital Markets is a derivatives trade venue that focuses on the execution of Interest Rate Swaps and Credit Default Swaps through its subsidiaries. Javelin works with several execution partners to ensure optimal liquidity for its diverse customer base. Javelin SEF is one of the first platforms to register as a Swap Execution Facility under the Dodd Frank Act 2010 with the CFTC. Javelin SEF received a temporary SEF license in September 2013. For more information, please see www.thejavelin.com.
Traiana, Inc. (www.traiana.com) provides global banks, broker/dealers, buy-side firms and trading platforms with services to monitor pre- trade risk and automate post-trade processing of financial transactions in listed and over-the-counter trading markets. Traiana’s solutions and the Harmony Network have become the market standard for post-trade processing of foreign exchange, exchange traded derivatives, fixed income, CDS and synthetic and cash equity transactions. Traiana, an ICAP company, is headquartered in New York City with offices in Chicago, Hong Kong, London, Singapore, Tel Aviv and Tokyo.