London / New York, 20 June 2023 – FIA Tech, a leading futures industry technology provider, has enhanced its Trade Data Network (TDN) to support the operational resiliency needs of clearing firms on the platform.
Firms utilising the Trade Data Network can now securely replicate and store all trading activity at any exchange connected to TDN, in support of a quicker recovery in the event of a systemic outage such as a cyberattack or technology failure. This past week, FIA Tech successfully completed a stress test, demonstrating the ability to securely capture and replay five trading days of activity in under four hours for all existing clearing firms using the platform.
The Trade Data Network is an initiative to provide a shared ledger of trading information to address the fragmentation and lack of transparency in exchange traded derivatives (ETD) post-trade processing. The TDN initiative currently includes 16 banks/brokers and over 40 investment managers and hedge funds with combined assets under management of over $37 trillion.
The initial rollout of TDN is focused on allocations processing and trade confirmations, with trade lifecycle transparency across the multiple brokers and the clearinghouse on each trade. Adding capability and scalability to support the operational resiliency needs of firms was a natural extension of the platform.
Nick Solinger, President and CEO of FIA Tech, noted: “We designed TDN to scale to the global needs of clearing firms and their clients, and are pleased to reach this significant technical milestone. Working with our clearing firms and connected exchanges, we hope to provide comprehensive solutions for resilience against systemic outages in the future. We look forward to working with the industry on best practices to further mitigate risk.”
Interested parties to join the TDN Operational Resiliency Working Group are encouraged to contact FIA Tech via www.fia-tech.com.
About FIA Tech
FIA Tech is the leading technology provider to the exchange traded derivatives industry. Owned by a consortium of eleven leading clearing firms and the Futures Industry Association (FIA), FIA Tech is committed to serving the industry and launching innovative solutions to improve market infrastructure across the listed and cleared derivatives industry. FIA Tech works in close partnership with the broader industry, including exchanges, clearinghouses, clearing firms and other intermediaries, as well as independent software vendors, buyside firms and end users to bring efficiency to the exchange traded and cleared derivatives industry.
Source: FIA Tech
