Bloomberg, Traiana Announce FX Options Processing Alliance

Bloomberg STP Solutions and Traiana will develop STP infrastructure to streamline the processing of FX options.

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Bloomberg and Traiana, both based in New York, are set to develop STP infrastructure to streamline the processing of FX options.

Bloomberg STP Solutions, a suite of real-time multi-asset class processing tools designed to streamline fixed-income, equities, derivatives, repos and FX transactions, and Traiana, a provider of pre-trade risk and post-trade processing technology, have announced an alliance to develop a straight-through processing platform to streamline the workflow of foreign-exchange (FX) options.

The platfrom will integrate Traiana's Harmony messaging network with Bloomberg's trade-processing tools.

The messaging service will use existing infrastructure from both companies and will support affirmation, allocation and trade lifecycle management for FX options. Bloomberg FXGO clients will be able to affirm trades received from any bank and then submit post-trade allocations to any prime broker via the Traiana Harmony network.

According to Bloomberg, both firms believe this to be an important step toward introducing much needed straight through-processing (STP) for FX options. The use of existing infrastructure makes the alliance a cost-effective means to accommodate a variety of existing market workflows around affirmations and allocations.

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