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Traiana and Aegisoft Partner to Provide End-to-End STP for Automated Foreign Exchange Trading

Posted on: Wednesday, 3 June 2009, 07:00 CDT

NEW YORK, June 3 /PRNewswire/ -- Traiana, Inc., the market standard for post-trade processing of foreign exchange trades and Aegisoft, a leading provider of global trading solutions, today 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."

About Traiana, Inc.

Founded in 2000, Traiana Inc. (http://www.traiana.com), an ICAP company, provides global banks, broker/dealers, buy-side firms and e-trading platforms with solutions to automate post trade processing of financial transaction and operates Traiana Harmony, the industry-leading platform for post-trade processing of over-the-counter foreign exchange trades. By connecting every major market participant in real-time, Traiana Harmony has reduced risk and reduced costs in the industry - acting as a catalyst for the on-going growth of foreign exchange as an asset class. Traiana has over 150 employees with offices in New York, Chicago, London and Tel Aviv. Traiana is owned by ICAP plc., the world's premier voice and electronic interdealer broker.

About Aegisoft, Inc.

Since 1994, Aegisoft has been providing innovative solutions for the financial community. Aegisoft's AthenaTrader is a multimarket, broker-neutral execution management system (EMS) for trading equities, foreign exchange, futures and options. It is a high-performance and configurable platform that has been deployed at large banks, hedge funds and proprietary trading firms throughout the world. In addition to trading solutions, Aegisoft's testing products - Exchange Simulator, Client Simulator and T3 - are considered the industry standard for automated, regression, interactive and performance testing of trading systems. Clients include high frequency proprietary traders, buy-side desks seeking minimal market impact, market makers relying on automated trading technology and low latency agency brokers around the world.

SOURCE Traiana

Source: PR Newswire

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