ICAP Futures and Options, the financial futures business of ICAP plc, has selected Traiana’s Harmony Network for its client connectivity layer.
This now brings the total number of futures commission merchants (FCMs) on the Harmony Network for Exchange Traded Derivatives (ETDs) to 13.
Gary Pettit, executive managing director of ICAP Futures and Options, says: “As ICAP’s global exchange traded derivative network continues to grow we have selected Traiana to provide STP connectivity direct from our execution platform in order to best facilitate the expanding requirements of our customers. We look forward to developing this relationship into other technology areas in the future.”
Nick Solinger, head of product strategy and chief marketing officer of Traiana, adds: “The addition of ICAP Futures and Options to the Harmony ETD network underlines the flexibility and scale of our offering. Adding connectivity from a wide range of ISV trading platforms to enhance ICAP’s offering is a further step in expanding the Harmony execution and clearing platform.”
Traiana’s Harmony Network enables FCMs to provide real-time visibility of exchange traded derivatives trades to their clients, enhancing client service and increasing transparency. At the same time, Traiana Harmony reduces operational risk by managing the entire reconciliation and allocation process in real-time and improves operational efficiency, providing STP connectivity to executing and clearing counterparties.