Xtrakter, the fixed income specialist, made the following announcement today: TRAX, Xtrakters trade matching and regulatory reporting system processed 578 million transactions in 2009, reflecting a 105% (296 million) increase on 2008 figures. Xtrakter currently processes on average 2.5 million 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, says Yannic Weber, chief executive officer, Xtrakter. 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.
The following is a breakdown of the general categories of transactions processed by TRAX during the period, which are publishable to the market: Equities 437 million, Derivatives 106 million, Bonds 13 million, 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.
D.C.