The yet-to-be-named trade aggregation service launched by CLS and Icap subsidiary Traiana in April received a fillip in September when Goldman Sachs became the latest bank to say it would support it. It joins the seven founder banks: Bank of America; Credit Suisse; Citi; Deutsche Bank; JPMorgan; Morgan Stanley and Royal Bank of Scotland.
The service is intended to reduce operational risk and post-trade costs and both rationalize and consolidate legacy post-trade processes. “The addition of Goldman Sachs demonstrates the continued and widespread industry support for the service and I am delighted by the expansion of the founder group of banks.
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