Traiana connects to trade repositories for EMIR
24 January 2014 London
Image: Shutterstock
Traiana, the trade risk processing software firm, will open its Harmony TR platform to four trade repositories by the time of the EU Market Infrastructure Regulation (EMIR) deadline.
Support for additional trade repositories will be added after the European Securities and Markets Authority go-live date.
EMIR will require institutions to report their derivatives trades, both over the counter and exchange traded derivatives, to appropriate trade repositories from 12 February 2014.
Harmony TR Connect streamlines this process, providing a single point of connection for post-trade reporting of OTC and ETD trades. The service will initially support FX, ETD and equity derivatives, with additional products being added over time.
Andy Coyne, Traiana CEO, said: “Traiana helps financial market participants to meet global regulatory requirements and in Europe we will be able to deliver standardised and consistent trade reporting for our clients operating in the global derivatives market, no matter which trade repository they use.”
The launch of Harmony TR Connect in Europe follows the successful implementation of the service to address US Dodd-Frank Act requirements.
The service supports a number of trade reporting solutions that both buy- and sell-side participants can leverage in order to report their individual trades to the trade repository of their choice.
This includes unique transaction identifier management capabilities allowing banks to share these with their counterparts, irrespective of trading paradigm, so the correct identifier can be provided with initial trade repository submissions.
Daniel Corrigan, executive director and CEO of the European Trade Repository CME Group, said: “The messaging service provided by Traiana enables clients to submit multi-asset class ‘over-the-counter’ and exchange-traded derivatives data to our CME European Trade Repository in a simple and efficient manner. The efficacy of Traiana’s messaging and unique transaction identifier generation is key to this offering.”
Support for additional trade repositories will be added after the European Securities and Markets Authority go-live date.
EMIR will require institutions to report their derivatives trades, both over the counter and exchange traded derivatives, to appropriate trade repositories from 12 February 2014.
Harmony TR Connect streamlines this process, providing a single point of connection for post-trade reporting of OTC and ETD trades. The service will initially support FX, ETD and equity derivatives, with additional products being added over time.
Andy Coyne, Traiana CEO, said: “Traiana helps financial market participants to meet global regulatory requirements and in Europe we will be able to deliver standardised and consistent trade reporting for our clients operating in the global derivatives market, no matter which trade repository they use.”
The launch of Harmony TR Connect in Europe follows the successful implementation of the service to address US Dodd-Frank Act requirements.
The service supports a number of trade reporting solutions that both buy- and sell-side participants can leverage in order to report their individual trades to the trade repository of their choice.
This includes unique transaction identifier management capabilities allowing banks to share these with their counterparts, irrespective of trading paradigm, so the correct identifier can be provided with initial trade repository submissions.
Daniel Corrigan, executive director and CEO of the European Trade Repository CME Group, said: “The messaging service provided by Traiana enables clients to submit multi-asset class ‘over-the-counter’ and exchange-traded derivatives data to our CME European Trade Repository in a simple and efficient manner. The efficacy of Traiana’s messaging and unique transaction identifier generation is key to this offering.”
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