Currenex and Traiana Offer Straight-Through-Processing for Foreign Exchange Trades
Prime Brokers Deploy New Solution for Streamlined Trading
October 25, 2005-Traiana, Inc. and Currenex announced they have integrated their platforms to automate and streamline order processing for prime brokers conducting foreign exchange trades on the Currenex execution platform. Traiana and Currenex also announced their first joint-customer, ABN AMRO, who is live on the new solution.
The complete 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 and seamlessness to the trade process.
Prime brokers can now receive immediate, electronic Currenex deal confirmations via the Traiana Harmony message center, meaning they can more effectively manage total positions, and provide their buy-side clients with increased efficiencies, improved reporting and reduced operational risk.
In total, Currenex and Traiana Harmony™ have achieved a seamless integration that automatically delivers trades from the Currenex platform to a number of its prime brokers who participate on Traiana Harmony™, allowing traders and portfolio managers to focus on trading decisions 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 utilize the full capabilities of the latest version of TRM 4.0 that has already been deployed at ABN AMRO," Said Eisso Vandermeulen, Vice President, FXPB, ABN AMRO.
"Traiana's goal is to solve the puzzling inefficiencies built into the transaction processes at major banking and broker institutions," said Michael Laven, Executive Vice President of Traiana Inc. "Integrating with a prominent platform like Currenex adds an important piece to the automation puzzle, and takes us one step closer to our goal."
Clifford M Lewis, Chairman and CEO Currenex, said " With our integration to Traiana, Currenex can make use of Traiana Harmony TM for prime brokerage give ups in the most efficient manner. The benefits in speed, accuracy and efficiency will be of great value to both our prime broker banks and buyside clients."
About Traiana Inc.
Traiana Inc. provides global banks and broker/dealers with Trading Relationship Management solutions which improve relationships with trading partners and clients and streamline trade operations to lower costs. Traiana's FX Prime Brokerage solution, based on Traiana TRM™ and the Traiana Harmony™ service for automating prime brokerage give-ups, is in use today by leading banks to deliver streamlined, exception-based trade processing combined with superior client service, trading partner integration and real-time reporting. Traiana is headquartered in San Mateo, California, with offices in major financial centers around the globe. For more information visit the Traiana web site at www.traiana.com or contact us at info@traiana.com.
About Currenex
Currenex®, Inc. is the leading provider of foreign exchange and money market trading solutions to banks, funds, corporations and other market participants. It is the only provider of a comprehensive suite of proven FX and money markets trading tools from executable streaming prices (ESP™) and Enhanced Request for Stream (ERFS) services to Benchmark rates and complete Prime Brokerage functionality.
Accessed through a global electronic communications network, Currenex patented technology is also available to users in privately-branded solutions. Additional information can be found at www.currenex.com.
Press Contacts:
| ABN AMRO: |
|
Patrick Phalon, Public Relations, 212-251-3524 |
|
| Currenex: |
Brian Andreyko, Chief of Staff, Currenex Inc on +1 (646) 827 3604 (brian.andreyko@currenex.com)
Or: Beverley Doherty, Chief Operating Officer, Currenex UK Limited, on +44 207 400 6212 (beverley.doherty@currenex.com) |
|
| Traiana: |
Illit Geller-Gurfinkel, Global Head of business Development, Traiana Inc. +1 (646) 536 4936 (illitg@traiana.com) |
|
|