Xtrakter, the market utility, is pleased to announce the arrival of TRAX iMatch. TRAX iMatch is the next generation in trade matching and confirmation solutions for the capital market, offering subscribers remote access to the TRAX community for the very first time.
TRAX iMatch is a new remotely hosted trade matching solution from Xtrakter, allowing market counterparties access to the TRAX community without the need to build dedicated gateways or interfaces. It provides all the capabilities of TRAX v2.9 but on a demand basis only.
Kevin Milne, chief executive, Xtrakter commented: “TRAX iMatch is the ideal solution for lower volume firms who have limited technology budgets or firms who are located in higher risk territories, as it provides all concerned parties with an immediate independent confirmation of the trade, thus reducing operational risk across the board. This is delivered to any customer with Internet access and a web browser.”
TRAX iMatch offers clients the following benefits:
• 100% on demand service
• No subscription costs
• No installation costs
• Multi-tenancy platform
• Pre-existing matching community
• All the benefits of TRAX v2.9
“Traditionally a barrier to adoption has been the requirement for firms to build dedicated system interfaces; for smaller firms who have very limited budgets this was never going to be a possibility. TRAX iMatch overcomes this barrier to entry by allowing counterparties regardless of their size the ability to access our risk reduction capabilities without the need to incur any development costs,” said Graeme Austin, Director, Product Management, Xtrakter.
TRAX iMatch builds on the success of TRAX v2.9 the leading post-trade, pre-settlement, trade matching & regulatory confirmation system in use by the OTC market, operating successfully since 1989.The TRAX community consists of over 200 hundred members based globally and TRAX process 1.5m transactions daily.
TRAX iMatch is the ideal trade matching solution for both buy and sellside practitioners who desire access to a dedicated community without the need to incur any IT development costs.