Green Hat's TRAX2 Solution based on the Business Transaction Processing platform (BTP) provides the most complete support for ICMA's TRAX2 service providing connectivity, trade reporting, matching and back-end system integration

TRAX2 Solution - ICMA TRAX2 Integration for Reporting and Matching

Green Hat's TRAX2 Solution based on the Business Transaction Processing platform (BTP) provides the most complete support for ICMA's TRAX2 service providing connectivity, trade reporting, matching and back-end system integration.

ICMA (the International Capital Market Association) is the self-regulatory organisation and trade association for the international securities market. Since 1989, ICMA has owned and operated TRAX2, its trade matching and regulatory reporting system. An effective risk management tool, operating 24 hours a day, the service has more than 200 subscribers. The service provides real-time trade matching and regulatory reporting in a comprehensive range of instruments.

Using TRAX2, to eliminate the costs and risks associated with paper-based trade confirmation, the difficulties of failed settlement due to human error will be significantly reduced. TRAX2 offers an electronic alternative to paper based trade processing, enabling counterparties to identify potential misunderstandings and problem trades early in the settlement cycle.

The Green Hat TRAX2 Solution, as part of the Green Hat BTP Framework, delivers a packaged solution to this requirement and enables rapid integration of the TRAX2 service with your existing systems.

The Green Hat TRAX2 Solution enables financial institutions to use the TRAX2 service smoothly and efficiently. More importantly it enables managed connectivity and integration of the service into existing front, middle and back office systems. Thus maximising the potential return on investment whilst having the lowest possible impact on existing systems.

The key deliverable of the Solution is the real-time management of trade matching and reporting functions, providing the mechanism to avoid errors in trade processing which in turn lead to regulatory penalties and heightened Operational Risk.

The Green Hat TRAX2 Solution automates the creation, marshalling and the sending and receiving of trade matching and reporting messages to and from the ICMA TRAX2 Host, whilst managing exceptions and unsolicited messages with real-time workflow processes. The Green Hat TRAX Solution is a packaged solution built upon the Green Hat BTP Framework, consisting of the Green Hat TRAX2 Adapter, TIBCO BusinessWorks processes definitions and TIBCO InConcert Workflows.

The integration of the TRAX2 service requires an in-depth knowledge of the service and its interface coupled with an analysis of a financial institutions' structure and trade processes.

Coupling the Green Hat TRAX2 Solution with our consultants' extensive financial solutions experience will realise the full benefit of the TRAX2 Service in the shortest time whilst delivering the highest possible ROI.

GHC consultants will deliver the knowledge of the TRAX2 service and will perform the analysis of an institution's requirements and existing systems and procedures.

Green Hat TRAX2 Solution Capabilities

The TRAX solution comprises a fully functional TRAX2 Adapter and BTP Process Templates.

Trade Reporting

An important regulatory requirement, reporting is handled seamlessly by the TRAX2 solution re-registering trades with ICMA. In the event of a trade not being accepted by the TRAX2 Service for whatever reason, the TRAX Solution will raise a real-time exception, which will be routed to the trader or trade support function, allowing the speedy resolution of problems and the avoidance of regulatory penalties.

Trade Matching

The TRAX2 central system searches and matches up identical trades. The state of the trade, unmatched, matched or unmatchable, is managed in real-time by the TRAX2 Solution enabling an institution to process trades in a speedy and risk controlled manner. Once a trade has been entered, it may swiftly and easily be amended, updated, cancelled, rejected or denied via the GHC TRAX2 Solution.

Trade Allegements

The TRAX2 service delivers real-time notification of trades alleged to have been made between institutions. The TRAX2 Solution routes them to the appropriate user function within the trading process. Alleged trades may in fact be 'Unmatched Matched' trades, which have failed to match because of an error in the trade record. The TRAX2 Solution will attempt to match these trades with an outstanding 'Unmatched Trade' creating a 'Close Match' event, which is then routed to the appropriate user for Exception Resolution.

GHC BTP Integration Capabilities

BTP complements the TIBCO ActiveEnterprise product suite to deliver rapid deployment of Financial STP Solutions

Integration and Data Access

Financial institutions can integrate disparate internal systems to streamline financial business processes. BTP provides access to databases, legacy applications, and mainframe systems.

Graphical Development Environment

Easy-to-use, drag-and-drop environment using a highly intuitive graphical modelling paradigm coupled with xpath data manipulation functions, to simplify business process design.

Business Process Modelling

BTP enables institutions to graphically model and deploy business processes built upon predefined process templates without the need to construct complex trading scenarios from scratch.

Message Transformation

Financial institutions can easily create mapping from any source format to any target format with the easy use mapper and xpath input functions. Additionally GHC BTP delivers mapping templates for mapping to and from common data models and industry standard message formats.