Banks eye Traiana for EM forex netting service
Industry turns to Icap-owned utility as CLS emerging markets push stalls
A group of large banks has tapped Icap-owned Traiana to help streamline the settlement process for spot and derivatives trades in emerging market currencies.
The plan is to use Traiana's NetLink service for portfolio reconciliation across counterparties so banks can make a single net payment to each other – firms currently make hundreds of gross payments each day, which drives up the cost of
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