SunGard enhances Stream Derivatives suite to support NLX launch
Date: Dec 13, 2012
Categories: Markets & Exchanges, Technology & Operations
Keywords: SunGard, NLX
London, December 5th 2012 – SunGard has enhanced its Stream Derivatives suite of solutions to support trading on Nasdaq OMX NLX (“NLX”), the new London interest rate derivatives trading venue. NLX will offer a range of both short- and long-term interest rate (STIRs and LTIRs) euro- and sterling-based listed derivatives products beginning in Q1 2013, subject to Financial Services Authority approval.
SunGard’s Stream Derivatives suite of solutions provides a variety of clearing and settlement functions, helping NLX members mitigate operational risk and create processing efficiencies. The suite includes Stream Clearvision, which supports connectivity to NLX as well as allocations, give-ups, take-ups and split management, and Stream GMI and Stream Ubix, both of which offer trade load and position keeping, valuation and reconciliations.
Charlotte Crosswell, chief executive officer of NLX, said, “Regulatory reform is driving significant change in the derivatives industry, and NLX is well positioned to help our members capitalize on these changes. Partnering with solutions providers that are readily accessible and familiar to our members is a key part of the NLX offering. SunGard’s post-trade solutions for derivatives provide a reliable, efficient and accurate means of managing the processing of NLX listed interest rate derivatives.
Re-disseminated by The Asian Banker