Swap execution facility (SEF) TeraExchange has connected to Traiana’s clearing risk management service CreditLink.
Market participants using TeraExchange will now be able to use pre-trade credit engine TeraCheck or Traiana CreditLink to manage real-time trading and clearing limits.
It will allow clearing members to pre-screen orders to trade swaps prior to execution with low-latency, providing certainty of clearing acceptance before the trade.
TeraExchange has also licensed its execution management system, TeraDirect, to post-trade processing firm Traiana for use in its product research and testing.
"Repeatable and dependable risk procedures and protocols create firm and deep markets,” Christian Martin, CEO of TeraExchange, said.
“Through TeraCheck and our partnership with Traiana we provide clearing members and market participants even more flexibility in achieving those goals."
Nick Solinger, head of product strategy and chief marketing officer at Traiana, said: "For over a year, we have been building Traiana CreditLink for the swaps industry so participants trading on SEFs would be compliant with new CFTC regulations."
TeraExchange is a CFTC registered SEF offering market participants a platform for trading all interest rate swaps, credit default swap indices, equity swaps, and FX non-deliverable forwards.