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New service addresses middle office bottlenecks and facilitates post trade transparency
SEB Futures today announced a major expansion of its exchange-traded derivatives client service platform.
SEB Futures’ clients will now be able to access a centralised real-time view of the trade life cycle from execution through to settlement, with the greatly enhanced transparency strengthening their risk management and decision-support processes significantly.
Using Traiana Harmony, SEB addresses the issue of dealing with multiple counterparties. It streamlines several post trade processes including allocations, reconciliations, average pricing, give ups and confirmations for listed derivatives and FX. In today’s increasingly demanding trading environment, it is important to find solutions to ease trade-date bottlenecks.
The result is that SEB Futures can now execute post-trade processes in real-time, ensure prompt identification of mismatches and provide a seamless clearing process.
“This major advance gives us the ability to communicate quickly and effectively post trade with a range of counterparties,” said Fredrik Wingren, head of Execution at IPM, a Stockholm-based systematic investment manager. “The extra visibility this service brings us, significantly enhances our decision-making and risk management capabilities.”
Gregg Cowie, global head of Futures Product at SEB Futures, said, “This is a major enhancement to our listed derivatives and FX offering. It is a clear demonstration of our commitment to innovate and to extend the highest levels of service to our clients. We look forward to rolling it out over the next few months.”
Jim Chrystal, co-founder of Traiana said, “We are delighted to be working with SEB Futures. There’s growing demand for cross-asset client clearing, and firms like SEB are setting a new standard for client servicing by using Traiana Harmony across asset classes.”