Traiana and Currenex have integrated their platforms to automate and streamline order processing for prime brokers conducting FX trades on the Currenex execution platform. The two firms also announced their first joint customer, ABN Amro, which is live on the new solution.
The straight-through processing integration of Currenex’s platforms, the Traiana Harmony service and Traiana’s trading relationship management (Traiana TRM) software, will bring additional speed to the trade process. Prime brokers can now receive immediate, electronic Currenex deal confirmations via the Traiana Harmony message centre, which means they are able to more effectively manage total positions, and provide buy side clients with increased efficiencies, reporting and reduced operational risk.
Together, Currenex and Traiana Harmony have achieved an integration that automatically delivers trades from the Currenex platform to a number of its prime brokers participating on Harmony, thus allowing traders and portfolio managers to focus on trading rather than pre- and post-trade decisions.
“We are happy to see the integration between Traiana and Currenex complete, as it will allow us to move one step further towards full STP. By becoming the first bank of the integrated offering, we shall be able to finally utilise the full capabilities of the latest version of TRM 4.0 that has already been deployed at ABN Amro,” says Eisso VanderMeulen, vice president, FXPB at ABN Amro.
“Traiana’s goal is to solve the puzzling inefficiencies built into the transaction processes at major banking and broker institutions,” says Michael Laven, executive vice president of Traiana. “Integrating with a prominent platform like Currenex adds an important piece to the automation puzzle, and takes us one step closer to our goal.”