Eurex Clearing OTC IRD clearing services have been in sharp demand from market participants. The connectivity provided by Traiana aims to address the increased volumes.
“This connectivity agreement is well-timed for market participants keen to use our services to consolidate their OTC clearing processes and benefit from an increase in clearing activity at Eurex.
By connecting Traiana’s Clearing Hub with Eurex, market participants can submit trades executed on electronic trading venues for clearing and benefit from Traiana’s Credit Risk Hub (LimitHub). This provides pre-trade checks for client orders placed on regulated trading venues and post-trade checks for voice executed trades; both requirements under MiFID II in Europe and Dodd-Frank in the United States.
Danny Chart, Head of Business Development at Eurex Clearing, said:
“Traiana’s clearing services are an essential part of the OTC clearing process and their efficient management of clearing workflows will allow our members and end clients to streamline processing IRS transactions on both a pre and post-trade basis.”
Traiana will also assist clearing members managing client limits with their post-trade workflows, supporting clients who allocate on a post-trade basis using a standby broker with “Bunched Orders”.