Traiana Teams Up With Trax to Implement Streamlined Repo Service

Traiana, a provider of pre-trade risk and post-trade processing solutions, has entered into a strategic agreement with Trax, helping foster a jointly interoperable Repurchase Agreement (repo) matching service, according to a Traiana statement.

Trax is a comprehensive provider of capital market data, trade matching, and regulatory reporting services – the business alliance is important as it will help instill more streamlined and automated operational processes for market participants ahead of upcoming regulatory changes.

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More specifically, the agreement also will enable buy and sell-side clients of both Trax and Traiana to confirm and match repo transactions amongst one another – this was aimed to create an integrated ecosystem of users and matching counterparties via consolidated access to automated electronic services that will be operated by Trax.

The announcement comes during a time in which many repo transactions are facing vulnerabilities to risk and costs. In particular, repo transactions are predominantly confirmed manually, and with exceptions can be typically caught in the settlement process. Consequently, Traiana and Trax have implemented a joint solution for clients with the aim of automating the post-trade confirmation and matching process.

In terms of the logistics, the new joint interoperable service will Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term Trax's existing repo matching technology, aided by each of Trax and Traiana’s exceptional management cross asset portals to buy- and sell-side clients of both firms.

According to Camille McKelvey, Product Management, Trade Matching, Trax in a recent statement on the partnership: “In 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 Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term processes.”

“By doing so, firms will be better positioned to meet their obligation to report securities financing transactions to a trade repository as required in the Securities Financing Transaction Regulation (SFTR),” McKelvey added.

“We are delighted to be working with Trax to bring an interoperable repo matching solution to the market. We have listened and responded to industry demands, led by the ICMA European Repo and Collateral Council Operations Group. This latest solution underlines Traiana’s cross asset post trade strategy, enabling our clients to gain even greater operational efficiency across securities financing,” noted Laura Craft, Director, Securities Product Strategy, Traiana, in an accompanying statement.