Post-trade processing, client servicing and trading partner
integration solutions for financial institutions.

One single connection for your trading network

 

Harmony Message Center (HMC) is a central hub that replaces manual processing and the use of multiple point-to-point interfaces between market participants.

 

Acting as a single point of connection, HMC has revolutionized the give-up process for the FX prime brokerage industry. The product has won the support of the FX industry, driving volumes of FX trading.

 

Industry Challenge

Manual data entry for give-ups, fund allocations, managed account reconciliations and many other processes are error prone, costly and inefficient.

 

The cost and operational risk are significant when trying to maintain numerous connections and formats for multiple banks and then re-inputting messages for the purpose of matching, audit trail, reporting and pinpointing errors. 

 

As trading volumes and complexity grow, these problems will only increase further.

 

Functionality

HMC provides a single connection point to market participants removing the need to re-key information and significantly speeding up the booking of trades:

• Transparent Trading – market participants can view trade status and transmit give-up information directly to prime brokers in real-time.
• Highly Secure – the HMC complies with public key encryption, digital certificates and secure connections to ensure the secure identity of counterparties and the fidelity of messages. Participants connect to HMC via the internet or through secure connections provided by BT Radianz.
• Status Updates – both on-demand and notification-based status updates are provided including errors such as mismatches as well as daily review and status information reports.
• Easy to Use – a web-based application utilizing Java and provides account and site administration tools to enable self-service of various administrative tasks. Standard messages are sent to Harmony Message Center using TRML, an extension of the industry standard FpML or through file uploads.

Benefits

• Single point of integration
• Operational efficiency
• State-of-the-art security
• Increased trade visibility
• Reduced costs

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