The FIA Tech Trade Data Network (TDN) is designed to revolutionize post trade processing in exchange traded derivatives (ETD).
TDN unifies ETD trade data from buyside, brokers, clearing houses and clearing members into a common, secure, standards-based ledger, creating a shared golden source of trading activity for participating firms and a cloud-based platform to identify and resolve bottlenecks in trade processing across the industry.
TDN was developed with input from banks/brokers, more than 40 leading buyside firms as well as members of the ISV community. The first services deployed on the network will be allocations management and trade lifecycle transparency, coupled with benchmarking, metrics and reporting to drive standards and best practices across the ecosystem.
Initially, TDN participants will use this golden source trade data to get transparency into the full trade life. TDN will standardize the allocation and confirmation processes for clients and futures commission merchants (FCMs) to eliminate processing bottlenecks and costs.
The longer term strategic vision for TDN is to work with market participants and the ISV community to improve middle and back office processes such as trade-date clearing, give-ups, fee and commissions management and eliminate duplicative reconciliations across these functions. As a result, TDN will reduce costs and unlock innovation across the industry.
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