Fenics and Traiana Team Up On OTC FX Derivatives

Andy Coyne at Traiana
Andy Coyne, Traiana

Fenics Software, a GFI Group company, has signed an agreement with Traiana that will allow Fenics customers to manage the reporting of OTC foreign exchange (FX) derivatives into swaps data repositories and clearing houses.

The deal integrates Fenics Professional with Harmony TR Connect, a messaging hub for connectivity between market participants, and CCP Connect, a workflow solution for client clearing. It gives Fenics customers the ability to real-time report into and reconcile with trade repositories via Traiana's Harmony network, including the DTCC swaps data repository, global trade repository and other trade repositories required globally by regulators. With the same connectivity to Harmony, they can manage the affirmation, allocation and clearing process with their clients, counterparties and clearinghouses under US and European swaps regulations.

Fenics customers will be able to submit reportable FX trades -- including options, deliverable forwards, non-deliverable forwards and swaps -- to trade repositories via the TR Connect service as well as receiving relevant trade enrichment information that is reported back to them.

As of now, the solution is exclusively offered to US customers.

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