Ubitrade,a leading supplier of advanced systems solutions for trading and risk management for capital markets to over 120 clients in 20 countries,today announces the sale of Ubitrade Futures & Options (UF&O) to Swiss private bank Vontobel.
Bank Vontobel AG, based in Zurich, is a leading Swiss asset manager with a strong position in the derivatives and structured products business in Switzerland.Vontobel will be using Ubitrade Futures & Options to manage their listed derivatives.Ubitrade Futures and Options is a complete STP solution, from order routing to trade booking, for listed derivatives on all major world financial markets.Ubitrade will also oversee the interfacing and integration phases.
Ubitrade was in direct competition with Sungard and Rolfe & Nolan.
Mr. Felix Lenhard, Project Manager at Bank Vontobel commented: "We were impressed with Ubitrade’s technology, its stability and the open infrastructure of its systems. UF&O, will provide us with a reliable infrastructure to manage and develop our activities on the Eurex."
Didier Bouillard, Chief Executive Officer, Ubitrade, commented: "We are hopeful that this deal will incentivise other direct or general clearing members of the EUREX to review their current arrangements and demand a product that fully meets their needs. The EUREX market offers great opportunities to financial institutions in the region to develop their derivatives trading activities. Strong and reliable back office and middle office packages are necessary to successfully support and develop such activities. We are delighted to be creating value for our clients by offering them modern, flexible, STP and Internet–based solutions."
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