Traiana, a unit of ICAP, has developed a real-time risk monitoring service in association with four banks’ foreign-exchange prime brokerage units and five trading platforms, The Wall Street Journal reports. Harmony CreditLink will seek to decrease risks associated with algorithmic and high-frequency trading.
The product will allow banks to centrally monitor, handle currency trading activity and curb globally across trading platforms in real time. Citigroup, Deutsche Bank, JP Morgan and Morgan Stanley have helped build the solution, along with platforms Bloomberg Tradebook, ICAP’s EBS, FXCM, Hotspot FX and Thomson Reuters.
Click here for the story from The Wall Street Journal.
Click here for the additional coverage from Reuters.