risk management and back office on capital markets to over 120 clients in
20 countries, today announces the sale of its Ubitrade Futures & Options
solution to CLC Bourse, the French brokerage arm of the CrÃ©dit Lyonnais
After having carried out a comparative review, CLC Bourse have decided to
acquire a large Ubitrade Futures & Options back office configuration
including 27 market modules, 30 client workstations, 50 Net@ccess users
(Ubitrade Futures & Options' Net@ccess module offers Internet access for
end-users, enabling CLC Bourse's clients to access to their positions,
statements and trades in real time, and to download this information into
their own position keeping, risk management, or accounting systems).
Michel Cadoche, IT Manager at CLC Bourse commented: "As a global clearer,
it is essential that we have a system allowing us to trade on any futures &
options market in the world and it is one of the reasons why we have chosen
Ubitrade Futures & Options.
Another key element in our decision was the open structure of Ubitrade
Futures & Options' database that will enable an easy integration with our
front-office systems, allowing us to benefit from a full STP solution.
Consequently, we will be able to have US markets clearing results available
each morning, as early as before the European markets open."
Didier Bouillard, Chief Executive Officer, Ubitrade, commented: "This deal
confirms Ubitrade's leading position in global futures & options processing
and demonstrates our ability to support large financial institutions,
dealing globally. There are more than 60 exchange-traded derivatives
markets worldwide, each with its own technology requirements, regulations,
and contract specifications, trading on these markets requires software
products that are both comprehensive and flexible. We are hopeful that this
deal will encourage other global players in the world to review their
current arrangements and demand a product that fully meets their needs."