Traiana, a post-trade services vendor, has launched a new service that offers a single point of connection for reporting foreign exchange, interest rate and credit default swap over-the-counter derivatives trades.

Harmony TR Connect provides connections to trade repositories operated by the Depository Trust and Clearing Corporation and Chicago Mercantile Exchange, and Traiana plan to provide coverage of other repositories to help firms comply with US Dodd-Frank Act and European Market Infrastructure Regulation.

Harmony normalizes data and helps firms manage requirements for legal entity identifiers (LEI) by enriching these fields via mapping if the client does not have the capacity to update and manage LEIs in their own database. It also helps customers manage requirements for unique swap identifiers (USI).

"Harmony has the ability to generate a USI as agent for the client and maintains an interface with the utility for the Commodity Futures Trading Commission's Interim Compliant Identifier for LEIs, as they are currently constructed," says Nick Solinger, Traiana's New York-based chief marketing officer.

Currently some 25 firms are using Harmony for some or all aspects of trade reporting. "Some use us holistically for all connectivity, and others can leverage our services for enrichment, USI communication and other regulatory data needs," he says. "We've kept things very flexible to tailor the offering to each participant."