Traiana has enhanced its Harmony Creditlink service and named Deutsche Bank as the first client to go live on it.
Updates to the Harmony service include improved processing capabilities and risk analytics across all FX trading models, including high frequency and retail trading. The enhanced service builds on Harmony’s tri-party limit utilisation and credit monitoring capability for foreign exchange spot, forwards and options.
Harmony Creditlink offers lower latency, increased capability, an enhanced dynamic monitoring dashboard, and risk identification algorithms which identify duplicated or unreported trades using proprietary pattern recognition.
The service complements a bank’s existing risk tools to ensure that all counterparties have real-time monitoring across execution venues and credit relationships, with assurance that risks and positions are up-to-date, Traiana says.
Nick Solinger, chief marketing officer of Traiana says helping clients to manage their credit risk will be one on the key challenges and opportunities of the foreseeable future. “The pace of trading in FX markets is only accelerating, and as such it is more important than ever to have credit monitoring in milliseconds rather than minutes. Immediate transparency into real-time exposure and risk identification across all counterparties and venues has become not just a ‘nice to have’ but a necessity. Using Harmony Creditlink, market participants can lower their risk and reduce their costs to open up new trading opportunities.”