Traiana and Trax offer joint repo matching service
21 January 2016 London
Image: Shutterstock
Traiana and Trax have formed a business alliance to offer a repo matching service to support efficient, automated, operational processes ahead of significant regulatory change.
The service aims to allow clients on both sides of the transaction to confirm and match repo transactions with one another, creating an expanded community of users and matching counterparties through an automated service operated by Trax.
The move comes in response to the upcoming reporting requirements of the Securities Financing Transaction Regulation, which was implemented on 12 January.
Trax will leverage its existing repo matching technology to centrally match each submitted repo transaction among buy- and sell-side clients of both firms.
Matching statuses are communicated and each respective client has the ability to constantly manage often-complex lifecycle events.
Camille McKelvey of Trax said: 鈥淚n light of impending regulation impacting the European repo market, both Trax and Traiana recognise the need for the industry to improve its post-trade workflow by automating trade date risk management processes.鈥�
Laura Craft, director of securities product strategy at Traiana, added: 鈥淲e are delighted to be working with Trax to bring an interoperable repo matching solution to the market.鈥�
鈥淲e have listened and responded to industry demands, led by the International Capital Market Association European Repo and Collateral Council Operations Group.鈥�
鈥淭his latest solution underlines Traiana鈥檚 cross-asset post trade strategy, enabling our clients to gain even greater operational efficiency across securities financing.鈥�
The service aims to allow clients on both sides of the transaction to confirm and match repo transactions with one another, creating an expanded community of users and matching counterparties through an automated service operated by Trax.
The move comes in response to the upcoming reporting requirements of the Securities Financing Transaction Regulation, which was implemented on 12 January.
Trax will leverage its existing repo matching technology to centrally match each submitted repo transaction among buy- and sell-side clients of both firms.
Matching statuses are communicated and each respective client has the ability to constantly manage often-complex lifecycle events.
Camille McKelvey of Trax said: 鈥淚n light of impending regulation impacting the European repo market, both Trax and Traiana recognise the need for the industry to improve its post-trade workflow by automating trade date risk management processes.鈥�
Laura Craft, director of securities product strategy at Traiana, added: 鈥淲e are delighted to be working with Trax to bring an interoperable repo matching solution to the market.鈥�
鈥淲e have listened and responded to industry demands, led by the International Capital Market Association European Repo and Collateral Council Operations Group.鈥�
鈥淭his latest solution underlines Traiana鈥檚 cross-asset post trade strategy, enabling our clients to gain even greater operational efficiency across securities financing.鈥�
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