Institutional spot FX network Hotspot FXi is to offer a straight-through processing interface to Traiana's Trading Relationship Management software and Harmony service for prime brokers.
Foreign exchange prime brokers can use the interface to receive Hotspot FXi deal confirmations from their clients and executing banks electronically.
For institutional investors executing trades over Hotspot FXi, Traiana's TRM software will deliver trade data directly to the prime broker's back office systems.
The two companies says that the combined STP solution has been successfully deployed with common customers and prime brokers.
Deutsche Bank, AIG Trading and JPMorgan Chase recently signed up with Traiana in an effort to automate prime brokered FX trades.
Gil Mandelzis, CEO of Traiana says: "Adding connectivity to multi-bank platforms such as Hotspot reinforces the open approach of Traiana Harmony. Clients of participating prime brokers want to deal anywhere, but book centrally with their prime broker."