Futures industry technology provider FIA Tech has enhanced its Trade Data Network (TDN) to support the operational resiliency demands of clearing firms utilising the platform.
Users of TDN will now be able to securely replicate and store all trading activity at any exchange connected to the network, which will help ensure speedier recovery in the event of a systemic outage such as a cyberattack or technology failure.
FIA Tech has already successfully completed a stress test, which it claims demonstrated the ability to securely capture and replay five trading days of activity in under four hours for all existing clearing firms using the platform.
The TDN is an initiative which FIA Tech describes as a shared ledger of trading information to address the fragmentation and lack of transparency in exchange traded derivatives (ETD) post-trade processing.
The initiative is made up of 16 banks or brokers, as well as 40 investment managers and hedge funds with combined assets under management of more than $37 trillion.
TDN’s initial rollout focused on allocations processing and trade confirmations, providing trade lifecycle transparency spanning various brokers and the clearinghouse on each trade.
FIA Tech stated that adding capability and scalability to support the operational resiliency needs of firms was a natural extension of the platform.
“We designed TDN to scale to the global needs of clearing firms and their clients, and are pleased to reach this significant technical milestone,” said Nick Solinger, president and chief executive of FIA Tech.
“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.”