Given impending regulations impacting the European repurchase agreement (repo) market, automating the trade desk risk management processes could make the industry more efficient.
Pre-trade risk and post-trade processing solutions provider Traiana and Trax, a provider of regulatory reporting services and capital market data, have agreed to provide an automated repo matching service which they claim will benefit the industry by reducing risks and costs.
The alliance aims to provide the ability for buy and sell-side clients of both Trax and Traiana to confirm and match repo transactions with one another, creating an expanded community of users and matching counterparties, through a shared access to an automated electronic service operated by Trax.
According to the firms the service adheres to the International Capital Markets Association European Repo and Collateral Council’s (ERCC) trade matching and affirmation working group guidelines.
“This latest solution underlines Traiana’s cross asset post trade strategy, enabling our clients to gain even greater operational efficiency across securities financing,” said Laura Craft, director, securities product strategy at Traiana.
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