Cleartrade Exchange has released its trade repository, an integral part of its trading platform, to clients. The Cleartrade real-time trade repository automates the production of trade confirmations, in the form of electronic recaps and archives trade history for all asset classes and all types of trading parties. It is an integral part of the Cleartrade platform cloud service, which is accessible via a secure url.
Trade repositories are becoming a core requirement in the equity, commodity and derivatives markets under Dodd-Frank regulations and Cleartrade Exchange will continue to monitor developing specifications and standards and offer compliance and access to regulators where required.
Irrespective of how an order is traded on the Cleartrade Exchange execution venue, the trade repository will produce the relevant counterparty trade and recap statements. Trade activity is available via the Cleartrade Exchange trade repository portal, another option is to have the trade recaps automatically emailed to the trading parties, their GCMs and brokers. The portal allows participants to log in and, using a search function to locate any trade executed over the previous seven years, and to download recap statements on demand.
Cleartrade Exchange partnered with Trigonal, a London-based software and development company to develop the trade repository over the past 12 months. A unique feature of the trade repository solution is its ability to interface to brokers’ existing trade manager back office systems provided by Trigonal. This enables broker trades executed via the Cleartrade Exchange to automatically populate the relevant broker in-house trade manager with all the relevant trade data, thus maintaining use of existing systems and retaining commission and invoicing process flows.
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