Exchange Traded Derivatives
Traiana Harmony for Exchange Traded Derivatives (ETD's) is a post-execution network which allows firms to manage risk in real-time, addressing the challenges from the growth in high frequency trading, the increased use of direct market access, and the post-trade complexity in allocations and client service. Harmony for ETD's provides an infrastructure that compliments your investments in clearing by providing immediate real-time visibility of executions and allocations for execution, clearing, and clients in a single dashboard, simplifying the post-execution process across venues and counterparties.
Using the solution, a clearing broker can provide its clients with trade-by-trade visibility into trading activity and allows them to process allocations without waiting for trades to be reported by the clearinghouse, catching errors in real-time, instead of later in the day or the next day when clearing records arrive.
Buy-side firms can now easily match, allocate, STP and confirm their ETD trades in real-time across counterparties and exchanges to ensure that any mismatches are caught immediately and that processing complexity and cost is eliminated downstream. Faster processes result in the ability to do more business; automation reduces risk. The solution is immediately available to the entire Harmony community.
Key Benefits:
Reduces operational risk
Once trades are executed, Harmony takes over immediately upon execution and manages the entire reconciliation and allocation process between trading client, executing broker and clearing broker. Trade-processing exceptions are identified through alert notifications in real-time rather than end-of-day, mitigating the impact of trading errors for all trading parties.
Improves operational efficiency; reduces cost and time
Harmony provides STP connectivity to executing and clearing counterparties through a single connection. This automation allows clients to manage their trading relationships with a single unified dashboard no matter how diverse (both geographically and legally) those relationships may be - significantly simplifying this relationship process. The exception-based process identifies any trade errors much earlier, reducing the time and cost associated with correcting trades dramatically.
Provides immediate access to trade information, enhancing service to clients'
No matter where the trade is executed, Harmony publishes the data to clients' systems in real-time, eliminating the need to re-enter trades. This gives clients the transparency and access to information they need in order to process trades effectively.
Key Features:
- Automated allocation instructions
- Enhanced reporting and exception management
- STPs allocation instructions for all execution and clearing counterparties
- Narrows the gap between the trading and checkout process
- Provides real-time reconciliation of fills, orders and allocations
- Connect once and remain connected
- Accepts client data in any language and message format (XML, CSV, Excel, FIX, TOF, etc.).
