Traiana's Harmony Equity Service Volume Growth Nearly Triples
Allocation volume growth was strongest in Asia as more brokers joined the network.
Follow
Traiana has seen strong growth in its Harmony Equity Swaps service, particularly in Asia, according to the pre- and post-trade solutions provider.
Traiana said the Harmony Equity platform ─ which provides electronic messaging and matching to buy- and sell-side firms for the contract for the difference (CFD) and equity swaps market ─ saw an 185-percent growth in allocation volumes between May 2015 and May 2016, increasing from 144 percent in the same period last year.
The company said greater interest in post-trade efficiencies as more regulations are being introduced is a big contributing factor to the higher volumes it is seeing in Harmony Equity.
Growth was strongest in the Asia-Pacific region, with volumes making up 26 percent of the global total. Two years ago, Asia-Pacific accounted for only 2 percent of its total volume. Traiana attributed the growth to brokers in Australia, Hong Kong and Japan joining the Harmony network.
"This reflects the strong adoption of electronic trading in this market, increased access by global buy-side firms, growing volumes in the give-up market and an increased focus on straight-through-processing services by global synthetic equity prime brokers," Traiana said in a statement.
It expects more growth in the equity swap network in Asia.
The service currently has 1,000 active participants and has expanded geographically, according to the company. It processes over three million trades worth more than $1.5 trillion daily.
More on Trading Technologies and Strategies
Waters Wavelength
Wavelength Podcast Episode 130: State Street Buys Charles River
Anthony and James spoke with some sources about the big acquisition of Charles River by State Street, and right now, there are more questions than answers.
Subscribe to Weekly Wrap emails