Hotspot FXi and Traiana Partner to Offer STP for Foreign Exchange Trades
Traiana, a US relationship management solutions provider, and Hotspot FXi have announced a partnership to bring an integrated solution for clients and prime brokers trading on Hotspot FXi’s electronic communications network. By creating a secure interface between Hotspot FXi’s platform, Traiana’s trading relationship management software and the Traiana Harmony service, foreign exchange prime brokers can receive Hotspot FXi deal confirmations from their clients and executing banks electronically, according to the firms involved. The integration is expected to lower operating expenses by 40-60 per cent by automating the entire trading relationship, across asset classes, with clients and counterparties. For institutional investors executing trades over Hotspot FXi, Traiana’s TRM software will securely receive Hotspot FXi trades, and deliver trade information to the prime broker’s back office systems, providing the institutional investor with increased efficiencies, improved reporting and reduced operational risk for all participants in the trade.