FFastFill ready for clearing migration
FFastFill, the leading provider of modern and innovative middle office matching and allocation technology announces its readiness for clearing via the new NYSE Liffe Universal Clearing Platform (UCP). NYSE Liffe is migrating its core trade and position management functionality before the end of 2012 to a new FIXML interface including CPS messaging which will run in parallel with the current TSCS / TRAMP clearing system. UCP will provide key benefits including machine readable reports with improvements in availability and improvements in performance from the implementation of new hardware. FFastFill delivers clearing services from both its SEALS and Prysm technologies.
FFastFill's matching and allocation system, SEALS is
delivered as part of FFastFill's Software as a Service (SaaS)
platform and from a high-specification, global datacentre
network allowing international institutions to run a single
clearing system throughout the globe.
Multi-geographical redundancy is built into SEALS from the
core and all hardware and software is scaled to meet the
demands of tomorrow's exchange volumes. Key benefits of the
SaaS platform include reduced time to market, simple and
straight forward set up for new clearing houses and users,
fully managed upgrade processes and a highly skilled support
network delivered from FFastFill's 24 hour global support
desk.
The design and architecture of SEALS allows for clearing
actions to be delegated to the trading company or NCM who are
able to manage their own allocation and give ups thus
reducing the administrative burden on the exchange member.
Caroline Davis, Managing Director - Business Development
said:
"FFastFill are pleased to be able to support NYSE Liffe in
the adoption of its new and innovative clearing platform. We
expect UCP to be able to deliver significantly enhanced
performance which will allow FFastFill SEALS users to benefit
from the significant investment we have made into our highly
resilient and saleable real time clearing platform."
Declan Ward, Executive Director, NYSE Liffe Clearing - NYSE
Liffe said:
"I am delighted that FFastFill have worked closely with our
teams to accelerate their implementation of the new FIXML
interface. In addition to the performance uplift this is an
important step in developing the clearing platform that will
be the backbone of the new Recognised Clearing House which is
planned to launch in mid-2013."
For further information please contact:
FFastFill plc | +44 (0)20 3002 1900 |
Caroline Davis, Managing Director | |
Rostron Parry | |
Charlotte Rutherford-Lee | +44 (0)20 7490 8062 |
About FFastFill
FFastFill is the leading provider of Software as a Service to
the global derivatives community using the latest
developments in technology to automate trade flow processes
across a firm's front, middle and back offices.
FFastFill's solutions encompass electronic order routing,
clearing, risk management and back office as part of an
integrated, yet modular system architecture. FFastFill is
traded on London's AIM (AIM: FFA).www.ffastfill.com. Follow us
on Twitter @FFastFill.
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