The pre- and post-trade solutions business of inter-dealer broker ICAP has revamped its post-trade cross-asset allocation, matching and confirmation service for both buy- and sell-side firms.
Traiana said Harmony Securities can be used across multiple products – including cash equities, equity swaps, corporate and government bonds, municipal bonds and treasury bills – and takes account of post-crisis regulatory changes to transaction processing as well as the migration of many asset classes to T+2 settlement.
The firm added that its Harmony network for equities and fixed income post-trade processing has experienced 300% growth in the number of participants and volume growth in excess of 1000% in the 12 months to July 2014.
Harmony Securities provides same-day cross-asset trade allocation, matching and confirmations via low latency processing. Its enhanced post-trade matching service aims to give users more flexibility in matching schema, thereby supporting a wide range of trading strategies, including combinations of cash and synthetic-equity allocations and many-to-many matching.
Traiana also offers the Harmony Equity Swaps network, a post-trade bilateral and tri-party matching service for executing brokers, prime brokers and buy-side firms. The give-up network volume on Harmony Equity Swaps has doubled since July 2013.
“Our participants are shielded from bespoke investment in a client specific FIX based workflow, while offering the controls of real-time matching to their entire client base. By delivering same-day trade affirmation and trade matching, Harmony reduces both operational and counterparty risk as well as the risk of settlement failure,” said Roy Saadon, co-founder and head of EMEA, Traiana.