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Ubitrade, a leading supplier of advanced systems solutions for trading, risk management and back office on capital markets today announces the opening of a new office in Chicago to market and service its software solutions to institutional clients in North America.

Ubitrade have appointed Peter Hutchinson as Vice President North American Sales to head up the new office. Peter will be responsible for new business development and US account management, reporting to Eric Wicart, Global Head of Sales at Ubitrade.

Ubitrade recently announced the sale of its Ubitrade Futures & Options back-office package to National Bank of Canada Clearing Services (NBCCS), account which will now be serviced from the Chicago office. NBCCS have replaced the Rolfe & Nolan system they had been using for the last 15 years with Ubitrade Future & Options system to manage their listed derivatives back office activities. Ubitrade was in direct competition with Sungard’s GMI system.

Peter Hutchinson joins from Future Dynamics Inc where he was Vice President
North American Sales responsible for all aspects of sales and revenue generation for FDI's new US business. Prior to that Peter spent 13 years with Rolfe & Nolan (R&N) in various roles including Vice President for Strategic Accounts (based in Chicago) where he was responsible for all aspects of account management and customer services for US clients and Strategic Account Manager (based in London) where he took over commercial responsibility for R&N's relationship with Deutsche Bank and project managed the bank’s global installation.

Didier Bouillard, Chief Executive Officer commented:
"The US market offers great potential for an alternative software provider with new and more modern technology and we expect many US players to review their current arrangements and demand a product that fully meets their needs. We are very well established in Europe with offices in Paris, Frankfurt and London. We also have an office in Sydney which services the Asia Pacific region. We are now a worldwide business which allows us to respond to our clients’ growing global needs and setting up an operation in the US was the ultimate next logical step in our development. We strongly believe in providing local support and service to our customers. Peter brings with him a wealth of experience and systems knowledge which will be very valuable in establishing Ubitrade’s presence in the United States."