HONG KONG, LONDON and NEW YORK, Jan. 23,
2019 /PRNewswire/ -- Traiana, a leading
infrastructure service which provides trade life-cycle and risk
management solutions, today announced that it has provided
direct central clearing connectivity to the Hong Kong Exchanges
(HKEXs) and Clearing's OTC Clearing Hong Kong (OTC Clear).
Market participants can now access HKEXs OTC Clear service to
clear USD/CNH and USD/HKD FX forward and swaps, via Traiana's
Clearing Hub (CCP Connect), which provides affirmation, matching
and trade processing capabilities.
HKEXs OTC Clear Deliverable FX service can be used to mitigate
settlement risk which arises when payments and receipts of
different currencies occur at different intervals during a standard
bilateral settlement process. The service can also be used to
offset settlement exposure with its clearing house cross currency
swaps service.
Member banks are now able to clear deliverable FX trades,
irrespective of how they were executed, using one of Traiana's many
connectivity and workflow options. Existing Traiana clients and
electronic trading venues can enable the HKEX clearing workflow as
an add-on to their existing Traiana FX post-trade processing
services.
"We are very happy to be working with Traiana," said
Jacky Mak, Head of OTC and FIC
Business Development in HKEX's Clearing Division. "It enhances our
ability to connect with the growing number of market participants
interested in HKEX's broad range of services including RMB-related
services."
"As the number of firms looking to voluntary clear FX
instruments continues to rise, central clearing connectivity is
becoming more and more important to our client base," said CME Head
of Optimization Asia, Guy Rowcliffe.
"Our partnership with HKEX, provides the market with an innovative
initiative which can be used to address a number of challenges
associated with standard bi-lateral trade lifecycle
management."
Traiana is a part of CME Group.
CME-G
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SOURCE CME Group