LONDON and NEW
YORK, July
4, 2019 /PRNewswire/ -- Traiana, the leading
infrastructure service for trade lifecycle and risk management
solutions, today announced that it has launched a new service to
fully automate the post trade lifecycle management of the
multi-trillion dollar equity swaps market. Traiana's Equity Swaps
Lifecycle Management service will transform the market's previously
manual, labor intensive and inefficient post trade affirmation
processes for clients globally.
Equity Swaps Lifecycle Management normalizes data reported by
swap providers and conducts reconciliation and affirmation of daily
valuations, payments and legal confirmations to identify any
changes to the underlying swap attributes. It also improves the
longstanding negative affirmation issues in the equity swaps market
by allowing buyside firms to view all exceptions in one place.
Disputes can then be resolved between counterparties on a daily
basis using the exception manager tool, rather than after monthly
resets are struck.
"Until now, it has been extremely challenging for buyside firms
to sift through multiple swap provider reporting statements in
various formats, across thousands of trades and positions per day
to look for potential issues and work out exactly what has changed
at the month-end reset," said Joanna
Davies, Global Head of Traiana. "Our new Equity Swaps
Lifecycle Management service creates huge operational efficiencies
and significantly reduces settlement risk for market
participants."
Phase one of Equity Swaps Lifecycle Management is now live with
further phases set to be released throughout 2019 and 2020.
Traiana is a part of CME Group. For more information on Traiana
offerings, visit: http://www.traiana.com/
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) enables clients to trade futures,
options, cash and OTC markets, optimize portfolios, and analyze
data – empowering market participants worldwide to efficiently
manage risk and capture opportunities. CME Group exchanges offer
the widest range of global benchmark products across all major
asset classes based on interest rates, equity indexes, foreign
exchange, energy, agricultural products and metals. The
company offers futures and options on futures trading through the
CME Globex® platform, fixed income trading via BrokerTec and
foreign exchange trading on the EBS platform. In addition, it
operates one of the world's leading central counterparty clearing
providers, CME Clearing. With a range of pre- and post-trade
products and services underpinning the entire lifecycle of a trade,
CME Group also offers optimization and reconciliation services
through TriOptima, and trade processing services through
Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are
trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB,
and Traiana, Inc., respectively. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the
property of their respective owners.
CME-G