Traiana, a provider of pre-trade risk and post-trade processing solutions, has launched a Unique Trade Identifier (UTI) management solution using the Harmony network.
As each jurisdiction introduces its own specific trade reporting requirements and UTI methodology, the management and sharing of trade identifiers with counterparts is becoming more complex.
The Traiana UTI management service facilitates the exchange of UTIs between counterparts, thereby allowing both parties to a trade to report using a common trade identifier, to the same or different trade repositories.
Reporting using the same trade identifier is the responsibility of both sides of the trade and is a cornerstone of EMIR trade reporting; the Traiana solution provides a flexible and scalable mechanism to fulfil this requirement.
Roy Saadon, co-founder, Traiana, says: "In speaking to our client base it has become clear that the most pressing issue is to manage UTIs across all regulatory reporting jurisdictions so that both parties to a trade can meet their reporting obligations in the required timeline."
The service provides a true cross-asset platform for UTI management across jurisdictions in order to address the full market need and offer real market efficiencies.