Traiana to Process OTC FX via ICE Link
The combination of the two will allow Traiana's Harmony connectivity network to utilize existing ICE Link plugs into buy-side institutions to allow for allocation, confirmation and clearing of OTC FX contracts. The tie-up follows ICE's announcement earlier this year that it would begin clearing FX non-deliverable forwards, subject to regulatory approval.
"We are delighted to have been chosen by ICE for this key initiative," says Andrew Coyne, CEO at Traiana. "As the regulatory drive to impose clearing on the OTC derivative market continues, Traiana is committed to providing the best solutions to customers to ensure they are able to adapt to new market structures. The combined solution of Traiana and ICE link will bring great benefits to the FX industry and will help streamline the roll out of central clearing globally."
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