The International Capital Market Association (ICMA) says its new TRAX2 trade matching and regulatory reporting system has been adopted by the Italian banks Intesa Sanpaolo and Banca Caboto.
They are the first banks in Italy, to join the roster of institutions who have successfully adopted the platform to match their trades in the international cash bond and repo markets.
TRAX2 is a post trade, pre settlement, trade matching and regulatory confirmation system for the capital market. It allows firms to manage their operational risk effectively by matching trades that have been done ‘over the counter’ i.e. not on an automated trading system, in real time with their counterparties.