Traiana has expanded its Harmony ClientLink’s service to equities and fixed income markets, allowing brokers to receive clients’ post-trade data through one gateway, regardless of the messaging preferences.
Harmony ClientLink is a cross-asset straight through processing (STP) and allocation platform for banks, brokers and buy-side firms. The tool, which was previously only available for FX and exchange-traded derivatives, automates allocation, confirmation and matching processes.
ClientLink also works as a “translation layer,” allowing brokers to receive information from buy-side clients in different formats as they either decide to move towards automated systems or stick to manual processes.
“We offer an STP allocation service, which translates clients messaging protocols, whether that’s coming in via FIX or SWIFT messaging, which would be a highly automated client, all the way down to an email or a spreadsheet for less automated clients,” Laura Craft, director of equities and fixed income at Traiana, the post-trade solutions provider, said.
Craft said the tool, aimed at reducing operational risk and costs, was customised to each client and broker, as the broker may want to receive information in one format, while a client may want to send the data using another preference.
“From a buy-side perspective, if they decide to move to a new protocol, they don’t need to worry about not having brokers to talk to on the other side,” she said.
“Traiana can help with the translation layer, allowing brokers to receive and send any messaging protocol. The ClientLink service helps fill that gap.”