Traiana, a provider of pre-trade risk and post-trade processing solutions, announced it has launched an upgraded version of its post-trade cross-asset allocation, matching and confirmation service for both buy- and sell-side firms.
The matching engine, dubbed “Harmony Securities Network,” is available across various products, including cash equities, equity swaps, corporate and government bonds, municipal bonds and treasury bills, and has been designed to meet industry processing requirements as well as forthcoming regulatory changes, such as T+2 settlement.
The need for an upgraded network is rooted in the need for more automation regarding the clearing of trades and other post-trade solutions. For instance, as some large asset managers have now adopted the FIX 4.4 protocol for their post-trade process and Harmony provides brokers with a streamlined infrastructure that normalizes and enriches messaging, regardless of client choice of protocol.
Triana representatives said the solution increases operational efficiency, while removing the IT burden of point-to-point FIX testing.
Specifically, Harmony Securities provides same-day cross-asset trade allocation, matching and confirmations via low latency processing. The enhanced post-trade matching service provides firms with increased flexibility in matching schema catering for all types of trading strategies, including combinations of cash and synthetic-equity allocations and many-to-many matching.
The launch of Harmony Securities is part of the firm’s Harmony Equity Swaps network, a post-trade bilateral and tri-party matching service for executing brokers, prime brokers and buyside firms.
