Traiana Provides Central Clearing Connectivity to HKEX OTC Clear for FX Deliverables
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
"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,
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