Leveraging the Harmony Network including the DTCC Swaps Data Repository (SDR), Global Trade Repository (GTR) and other trade repositories, customers using FENICS will gain the ability to report in real-time and reconcile with trade repositories.
Using the same technology with Harmony, its customers can manage the affirmation, allocation and clearing process with their clients, counterparties and clearinghouses (CCPs) under US and European swaps regulations.
Fenics clients can also submit reportable FX trades including options, deliverable forwards, non-deliverable forwards and swaps to Trade Repositories through the TR Connect service.
In order to support the workflow, routing, matching and state management associated with reporting activities, the Harmony TR Connect caters a messaging centre for connectivity between market participants and trade repositories.
The reporting activities includes initial trade reporting, USI storage, LEI/UPI storage, lifecycle and state management, trade amendments, cancellations and snapshot reporting.
Companies using single connection to Harmony CCP Connect will be able to access other FX infrastructure operators; to ensure clients can use their preferred trading, allocation and confirmation venues with complete interoperability.