Xtrakter, the market utility, announced the launch of a new partnership programme for TRAX, its trade matching and regulatory reporting service today.
The TRAX Partnership Programme (TPP) aims to categorise connectivity providers for the benefits of current and future TRAX users.
The following firms have already become members of the TRAX Partnership Programme (TPP); Inforalgo, ThomsonReuters, SunGard, Ikasan, Singularity, Exis Consulting & Trace Financial.
"The TPP allows us to better understand the level of service and quality differing connectivity providers offer the TRAX user community. We hope the programme will help us to improve performance, foster better working relationships between Xtrakter and participating firms for the benefit of our mutual clients ..." commented Kevin Milne, Chief Executive, Xtrakter.
The TPP ranks firms on the following basis:
• Service offering
• Client feedback
• Systems knowledge and expertise
• Quality control
Participating firms are assigned to the following categories; Platinum, Gold, Silver and Registered.
Greg Johnson, Chairman, Inforalgo commented: "The new partnership program provides Inforalgo with a more formal & structured relationship enabling us to better understand xtrakter's future development plans at an earlier stage. This allows us to manage our resources more effectively and maximise cost savings to our significant, world-wide client base."
Platinum Partners are connectivity providers who offer high value to members of the TRAX user community. They demonstrate expertise in multiple Xtrakter solution sets and cater to the full range of TRAX services. They consistently achieve high levels of customer satisfaction and deliver connectivity on time.
"Financial service institutions strive for agility and STP, yet they continually divert resources to re-invent integration solutions to the same industry wide problems. Xtrakter and our TPP membership have provided us with a unique relationship to bridge this gap as an Open Source solution available to all." said Jeff Mitchell, founder, Ikasan Open Source Enterprise Integration.
Gold Partners are connectivity providers who are experienced in delivering the TRAX solution, have achieved a high level of customer satisfaction and do deliver the full range of TRAX services.
"We're delighted to be working with Xtrakter," said Gill Bacon, Relationship Manager at Singularity. "The partnership has huge potential for our customers, and we look forward to working with Xtrakter to produce a range of compelling STP solutions, leveraging unified messaging and post-trade matching capabilities."
Silver Partners are connectivity providers who have proven success in the market with a TRAX solution. They have experience in providing connectivity to TRAX community but do not cater to all the TRAX capabilities and/or other related Xtrakter products.
"Trace Financial is pleased to partner with Xtrakter. We specialise in messaging solutions for financial clients worldwide and our leading solutions support ISO 15022/20022 and numerous other standards. We will assist clients to obtain the maximum benefit from Xtrakter services easily, speedily and cost-effectively." said John Murphy, Managing Director, Trace Financial Limited.
Registered Partners are connectivity providers who have not yet delivered any connectivity to the TRAX user community. They are taking their first steps in building a relationship with Xtrakter and our clients.