(LONDON, UK) Xtrakter, the fixed income specialist, made the following announcement today: TRAX, Xtrakter’s trade matching and regulatory reporting system processed 578m transactions in 2009, reflecting a 105% (296m) increase on 2008 figures. Xtrakter currently processes on average 2.5m transactions daily on behalf of its user community.
“TRAX plays a vital role in reducing risk exposure, facilitating trade matching and settlement and ensuring its many subscribers fulfil their regulatory obligations. This significant increase in transaction volume highlights the value the TRAX community receives from the service, its continuing importance as a matching, reporting and settlement facilitator for the capital markets as a whole,” said Yannic Weber, Chief Executive Officer, Xtrakter.
The following is a breakdown of the general categories of transactions processed by TRAX during the period, which are publishable to the market: Equities 437m, Derivatives 106m, Bonds 13m, Indices 8m & Future & Options 757k.
During 2009 TRAX processed 820k repo transactions, the following is a breakdown of the repo types of transactions processed: Buy-Sell Back 499k, Term 227k & Open 93k.
TRAX is a leading post-trade, pre-settlement, trade matching & regulatory confirmation system for the OTC market.It is available to any financial institution active in the international capital market assisting financial institutions with their matching, reporting and regulatory requirements. TRAX offers the repo market the unique ability to process both the near and far leg transactions as one single trade, allowing for improved tracking, reduced operational risk and a cost saving of 50% for subscribers to its service.
For more information about Xtrakter and/or TRAX please visit xtrakter.com/matching.aspx or e-mail TRAX@xtrakter.com
More information
For more information about this topic or Xtrakter please contact:
Conor Coughlan
Marketing & Communications Manager
DDI: +44 (0) 20 7510 2692
Mobile: +44 (0) 78 7219 4732
Fax: +44 (0) 20 7538 4902
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