Futures industry technology provider FIA Tech has developed its Trade Data Network (TDN) platform to support the operational resiliency requirements of clearing firms.
Through the initiative, users will be able to replicate and store all trading activity at any exchange connected to the network, allowing for quicker recovery in the event of a systemic outage.
TDN was created in response to fragmentation and a lack of transparency in post-trade processing operations for exchange traded derivatives, and offers a shared ledger of trading information.
Initially focused on allocations processing, trade confirmation and trade lifecycle transparency, evolving the service to support operational resiliency is “a natural extension of the platform,” FIA says.
A recent stress test of the platform found it to be capable of capturing the trading activity of all clearing firms using the platform, with five days of trading activity replayed in less than four hours.
Nick Solinger, president and CEO of FIA Tech, comments: “We designed TDN to scale to the global needs of clearing firms and their clients, and are pleased to reach this technical milestone. Working with our clearing firms and connected exchanges, we hope to provide comprehensive solutions for resilience against systemic outages in the future. We look forward to working with the industry on best practices to further mitigate risk.”
