Traiana and Aegisoft partner to provide end-to-end STP for automated FX trading

First Published 10th July 2009

Aegisoft's AthenaFX execution management system to integrate with the Traiana Harmony Network

Sang Lee, managing partner, Aite Group. "Traiana and Aegisoft's joint solution significantly streamlines the post-trade process, lowering costs of processing and decreasing operational risk for banks and their clients."

Traiana, Inc. and Aegisoft have announced a partnership to streamline post-trade processing for firms trading foreign exchange using algorithmic execution and automated trading technology.

The partners announced that they have integrated Aegisoft's AthenaFX execution management system with the Traiana Harmony Network, allowing users of AthenaFX to consolidate executions across venues for streamlined post-trade processing and settlement with their prime broker, bringing efficiency to all constituents of their trades. The joint solution, already in production and available to all Aegisoft customers, allows traders to match transactions in real-time, and receive real-time post-trade notifications from every major liquidity provider -- single dealer platforms, ECNs and prime brokers.

"The FX market has witnessed the rapid growth of algorithmic trading strategies designed to capture execution opportunities in an increasingly electronic and fragmented marketplace," said Sang Lee, managing partner, Aite Group. "Traiana and Aegisoft's joint solution significantly streamlines the post-trade process, lowering costs of processing and decreasing operational risk for banks and their clients."

Buy-side firms looking to access greater FX liquidity and improve price discovery are increasingly using algorithmic execution and market aggregation technology, resulting in higher volumes in the market. However, the increased volumes and cross-venue executions have created post-trade challenges which increase operational risk and add complexity for buy-side firms, their execution partners and prime brokers. By streamlining the post-trade process, the risk of missed or broken trades can be reduced and manual intervention eliminated for all trades but the exceptions.

"Our partnership with Aegisoft is very strategic for our customers." said Illit Geller-Gurfinkel, Vice-President Business Development, Traiana, Inc. "Our integrated post-trade solution delivers powerful benefits to every constituent - buyside firms, banks, prime brokers and ECNs."

"Given the fragmentation in the FX marketplace and the increased demand for automating back-office processing and achieving true STP, partnering with an industry leader like Traiana has enabled us to provide our clients with a greater quality of service and a complete end-to-end solution for their advanced FX trading technology needs," said Steven Santivenere, Director of Global Sales at Aegisoft. "It has been our goal since day one to provide our clients with a robust trading platform to efficiently access multiple liquidity destinations and equip them with the most advanced technology to outperform their competition."

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