ICE and Traiana agree OTC FX deal to meet new clearing regulations

IntercontinentalExchange (ICE), which operates clearing houses, and Traiana, which offers post-trade solutions, have signed an agreement to offer OTC foreign exchange contracts via ICE Link, a middleware service.

The contract will help users in the global FX market, who must meet new regulations being introduced in the US, Europe and Asia.

The deal will use Traiana’s Harmony network to connect users to FX clearing houses, banks, execution brokers, clearing brokers, and trading venues. Existing ICE Link clients, including some 550 buy side institutions, dealers and prime brokers, will use Traiana’s network to affirm, allocate, confirm and clear OTC FX trades.

Andrew Coyne, CEO, Traiana said: “As the regulatory drive to impose clearing on the OTC derivative market continues, Traiana is committed to providing the best solutions to customers to ensure they are able to adapt to new market structures. The combined solution of Traiana and ICE link will bring great benefits to the FX industry and will help streamline the roll out of central clearing globally.”

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