Traiana names CreditLink clients

Post-trade risk and post-trade processing firm Traiana has named several new clients using its CreditLink service.

The company said Barclays, BofA Merrill Lynch, Citi, Goldman Sachs, and JPMorgan were among clearing firms that had signed up to use CreditLink to manage swap clearing limits.

The service, which has been built in consultation with major clearing houses, interfaces with 12 potential swap execution facilities and designated contract markets. These include GFI Group, iSwap, Javelin, MarketAxess, TeraExchange and trueEX. It is designed to give clearing and buy-side firms the ability to manage trading and clearing limits in real-time for interest rate, credit and foreign exchange (FX) swaps.

Mike Yarian, global head of agency derivative services at Barclays, said: “Pre-trade clearing checks are an important part of ensuring a fully automated and seamless process for the centralized clearing of OTC derivatives.

“This initiative provides a pre-trade, low-latency solution to check the certainty of clearing across multiple venues, in compliance with the requirements of Dodd-Frank legislation.”

Traiana said CreditLink was designed to maximise liquidity and supported both centralised limit checking – known as the ‘ping model’ – as well as the ability to distribute limits directly to other parties – the ‘push model’.