Currencies-trade processing firm, Traiana, has launched a service to help banks link to central counterparties for the clearing of over-the-counter (OTC) trading in FX derivatives. Citigroup is the first customer to sign up for Traiana’s new service. Harmony CCP Connect offers connectivity to central counterparties (CCPs) through the Harmony network, including trade routing and reporting for centrally cleared OTC FX options and non-deliverable forwards (NDFs). The service adds central clearing services to Traiana’s market standard post-trade network, which processes OTC FX options and NDFs for a network of over 500 connected firms.
Click here for the release from Traiana.