The Harmony CCP Connect service is an addition to Traiana’s well established Harmony post-trade network, which connects FX execution platforms, brokers and clearing banks. Last year Traiana began offering a similar service for exchange-traded derivatives.

The first CCP to link to Harmony under the new service is CME Clearing. “Traiana already has the expertise, knowledge and live applications to automate NDFs and FX options post-trade, and is the leader in providing such services to the industry today,” said Gil Mandelzis, Traiana’s CEO, in a statement.“We are working closely with our clients and partners to expand these services to cover CCP related flows while maintaining the integrity of the connection and a consolidated view.”

Citigroup will use the CCP Connect service for its FX options and non-deliverable forwards – the two parts of the OTC FX market that are generally expected to become mandatorily clearable under the Dodd-Frank Act.

Traiana has also gone live with its Harmony CreditLink solution, offering risk analytics and comprehensive processing for spot FX, forwards and options.

Deutsche Bank has become the first to go live on this platform, which builds on triparty limit utilisation and credit monitoring feature from Harmony.

Harmony CreditLink will also provide risk identification algorithms and an enhanced dynamic monitoring dashboard for classifying unreported trades or duplicate trades using proprietary pattern recognition.