Traiana provides connectivity to Eurex central clearing

Connectivity reflects increased client demand for access to Eurex’s OTC interest rate derivatives clearing services.

CME Group’s risk management services provider Traiana is to provide direct central clearing connectivity to Eurex in a bid to streamline clearing processes for clients.

Traiana said that its connection to Eurex allows market participants to submit trades executed on electronic venues for clearing, and reflects client’s demand for access to Eurex Clearing OTC interest rate derivatives clearing services.

“This connectivity agreement is well-timed for market participants keen to use our services to consolidate their OTC clearing processes and benefit from an increase in clearing activity at Eurex,” Steve French, head of connectivity and messaging at Traiana, commented.

The move means that Traiana can offer trading venues, trading firms and clearing members with an end-to-end solution for over-the-counter (OTC) interest rate swaps via its Clearing Hub service. It also assists clearing members managing client limits with their post-trade workflows, and supports clients allocating on a post-trade bases using a standby broker with ‘bunched orders’.

“Traiana’s clearing services are an essential part of the OTC clearing process and their efficient management of clearing workflows will allow our members and end clients to streamline processing interest rate swaps transactions on both a pre and post-trade basis,” said Danny Chart, head of business development at Eurex Clearing.

Market participants will also be able to use Traiana’s Credit Risk Hub for pre-trade checks for client orders placed on regulated trading venues, and post-trade checks for voice trading.

Earlier this month, CME Group made several upgrades to Traiana’s Credit Risk Hub to allow FX prime brokers to define trade information in more detail in order to provide increased credit risk control.