NEX Traiana

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Traiana
NEX-Traiana Primary Black.png
Founded 2000
Headquarters New York
Key People Joanna Davies, Managing Director, Head of Product Development, David Thompson, Chief Operating Officer
Website www.traiana.com
Releases Company News

Traiana, owned by NEX Group and operates under the NEX Optimisation division, is a market infrastructure technology provider that offers pre-trade risk monitoring and automated post-trade processing for listed and OTC trading.[1]

The company works primarily with global banks, broker/dealers, buy-side firms and trading platforms.[2]

The firm says it connects 1,000 firms via a cloud-based network called Harmony and supports 15,000 cross-asset trading relationships on the platform. According to Traiana, Harmony's system handles $2 trillion worth of transactions daily.

History

Gil Mandelzis, James Chrystal and Roy Saadon founded Traiana in 2000.

In March of 2012, six major banks signed up to Traiana's clearing network, known as Harmony CCP Connect, to manage the connectivity and workflow required to clear over-the-counter FX derivatives. The banks are: Citigroup Inc., Bank of America Merrill Lynch, Deutsche Bank AG, JP Morgan Chase & Co., Morgan Stanley and UBS AG. [3]

In January of 2013, ICAP sold a 12 percent stake in Traiana to seven of its biggest customers: Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, JPMorgan, Nomura and Royal Bank of Scotland. The deal valued Traiana at $300 million.[4]

The company was acquired by ICAP (now NEX) in October of 2007 and was folded into the NEX Optimisation division of NEX Group at the end of 2016 as the company reorganized its business lines.[5] ICAP became NEX Group in December of 2016.[6]

Products and Services

The firm offers a host of solutions to banks, brokers, buy-side firms, fund administrators, prime and clearing brokers as well as trading venues and exchanges including:

  • Messaging & Normalization, which converts all messaging types into desired formats
  • Pre- and Post-trade Credit and Risk, which allows participants to streamline their credit and risk workflows
  • Allocation & Confirmation, an automated standard for counterparties
  • Matching, which allows straight-through processing
  • Aggregation & Netting, which aims to improve efficiency, cut costs and improving processing capacity for firms
  • OTC Clearing Connectivity, which reduces risk and settlement costs
  • Trade Lifecycle Management, which standardizes broker statements in an automated manner
  • Regulatory Trade Reporting, which provides compliant reports for firms
  • Brokerage & Invoice Processing, which replaces manual brokerage and invoice documents

[7]

Traiana's Harmony network provides market connectivity via a cloud-based model for FX, equities, equity derivatives and exchange traded derivatives.

Traiana's CCP Connect, introduced in 2011, consolidates clearing connectivity for clearinghouses, Swap Execution Facilities, Multilateral Trading Facilities. [8] [9]

Client Link is a gateway to markets for FX, fixed income, repos, cash equities, equity swaps, contracts for difference (CFD), exchange traded derivatives (ETD), non-deliverable forwards (NDF) and swaps.

Confirmations Management normalizes a bank’s swap confirmation into a centralized client-facing UI. It provides clients with a choice of methods to accept or reject the confirmations.

CreditLink is a real-time platform for pre- and post-trade certainty of clearing and helps managed risk across in credit relationships, including prime-brokered, cleared and bi-lateral relationships.

Data Translation Center is the format-agnostic messaging and normalization solution for financial participants. It allows them to capture, transform and normalize cross-asset counterparty data into their preferred file type, that is then delivered to the middle office as part of an automated workflow.

Message Center enables buy-side and sell-side participants to manage global FX transactions and CFD/equity swap give-up activity through a central hub.[10]

Key People

References

  1. Traiana launches electronic management of confirmations and payments for equity swaps. NEX.
  2. Traiana goes live with two new banks on Harmony CCP Connect for Equities. Traiana.
  3. Traiana Signs Up Six Banks To Clearing Network. The Wall Street Journal.
  4. ICAP sells stake in Traiana. The Financial Times.
  5. Traiana Leadership. Traiana.
  6. Tullett Prebon Completes $1.6 Billion Deal for ICAP Brokers. Bloomberg.
  7. Traiana Solutions Overview. Traiana.
  8. Traiana Signs Up Six Banks To Clearing Network. The Wall Street Journal.
  9. Traiana Solutions Central Clearing. Traiana.
  10. NEX Traiana Products. NEX Traiana.