Traiana, a provider of post-trade and risk solutions, has expanded Harmony ClientLink’s cross-asset capability to the equities and fixed income markets with a number of brokers.
Harmony ClientLink offers the cross-asset straight through processing (STP) and allocation platform for banks, brokers and buy-side firms. Harmony ClientLink provides executing brokers and prime/clearing brokers with a complete client servicing solution. This will automate allocation, confirmation and matching processes and has more than 1,000 client connections across FX, exchange traded derivatives, equity swaps, cash equities and fixed income.
As more and more buy-side firms are standardizing their processes using protocols such as FIX and SWIFT, Harmony ClientLink offers an integrated FIX and SWIFT gateway to support these changing client technology demands. ClientLink enables the broker to maintain internal STP regardless of client messaging preference and without any internal system development. Featuring a message transformation infrastructure, clients can be set up in minutes to send and receive their trade information in their own format and language, including any structured or unstructured message type, including formats such as e-mail, PDF, CSV or proprietary formats used by many others.
Roy Saadon, co-founder and head of EMEA, Traiana, says: “As buy-side clients continue to move from legacy electronic trade confirmation services towards standards like the FIX protocol, brokers are looking for rapid and cost efficient services such as Harmony ClientLink to help facilitate this transition and reduce costs for the market.”