13 July 2009 News

 

Trayport opens link to LCH.Clearnet for automated clearing

Trayport is now offering real-time straight through processing from its GlobalVision Broker Trading System to LCH.Clearnet's clearing systems for processing transactions.

OTC cleared trading is playing an increasingly important role in the European energy markets, however, the current process requires brokers and traders to manually enter trades into LCH.Clearnet's systems. The new connection direct from GlobalVision to LCH.Clearnet's clearing systems automates the OTC Cleared trade workflow. This allows higher volumes of trades to be submitted to LCH.Clearnet in less time and can reduce input errors found due to manual processing.

"The London Energy Brokers Association, which includes members such as CantorCO²e, GFI Group, ICAP, Spectron, TFS and Tullett Prebon has expressed their support for this new initiative which has already gone live with carbon emissions trading but will also include other asset classes in spot and futures markets such as freight derivatives," said Isabella Kurek-Smith, director of energy and freight LCH.Clearnet.