Traiana, a vendor of pre-trade risk and post-trade processing solutions, has launched a version of CreditLink, a credit-checking hub for derivatives that includes services to streamline post-trade processing of trades conducted via swap execution facilities (SEFs). In particular, the upgrade will help firms manage the allocations process for bunched orders, and to monitor limits across the entire trade lifecycle, officials say.
The updated release of CreditLink offers the following key new capabilities:
- Real-time notifications of SEF orders and executions;
- What-if checking for new trades and allocations to ensure planned trading activities are within clearing limits;
- Bunched-order allocations with integration to leading clearinghouses across interest rate swaps and credit default swaps;
- Automated notifications, alerts and reports to help firms manage their margin requirements and limits with their futures commissions merchants (FCMs) via new functions designed for buy-side market participants trading via SEFs;
CreditLink has been used for electronic credit default swap (CDS) and interest rate swap trading since the onset of mandatory SEF trading in February. More than 600 buy-side client organizations have managed their pre-trade clearing using CreditLink, which is connected to major SEFs, clearinghouses and 16 FCMs.
Traiana provides global banks, broker/dealers, buy-side firms and trading platforms with services to monitor pre- trade risk and automate post-trade processing of financial transactions in listed and over-the-counter trading markets.
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