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Many firms trading in NDFs (and later FX options) will now need to have their trades cleared via central counterparties (CCPs), via FX Clearing firms. This introduces numerous changes, including new margin requirements, clearing fees and processes. However, the technology challenge can be streamlined with Harmony CCP Connect for Clearing Clients. Once a clearing member has been selected, a client must make sure that they have the appropriate connectivity in place between participants in order to guarantee the registration of trades for clearing at a CCP.
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| Clients who use the Harmony network today can leverage their existing connectivity to submit messages for processing by Harmony CCP Connect and onward distribution to their Clearing Member for forwarding to the appropriate CCP. For clients new to Traiana Harmony, Traiana has connected to more than 500 firms, and is interoperable with the leading FX front and back office providers, is connected to post-trade venues such as Bloomberg, FX Connect, MarkitSERV and others. Using Harmony can give you seamless access to any clearer, any clearinghouse and any counterparty in the FX market, without requiring you to implement the variety of different standards, protocols and processes in use by each venue and participant. |
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| Clients who use the Harmony network today can leverage their existing connectivity to submit messages for processing by Harmony CCP Connect and onward distribution to their Clearing Member for forwarding to the appropriate CCP. |
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