derivatives software, today announced the successful implementation of its
virt-x processing solution for HSBC Bank plc. This functionality, offered as
part of RANsys, Rolfe & Nolan's comprehensive back office processing system,
enables the clearing and margining of virt-x transactions.
virt-x is a collaboration between the TP Group LDC - comprising of 11
investment banks, money managers and ECNs - and the SWX Swiss Exchange. It
provides a pan-European marketplace for blue chips and exchange traded funds. virt-x provides a single open architecture platform to provide efficient, low cost trading and STP of trades through to settlement in European equities.
Paul Miller, Rolfe & Nolan's Chief Operating Officer for Europe commented that: "Rolfe & Nolan are always pleased to meet the challenging timetables
imposed by the marketplace. The extension of RANsys to cover virt-x is another example of how we work closely with exchanges and member firms to satisfy their emerging needs."
Greg Totts, Global Clearing Services Director in HSBC's Treasury & Capital
Markets, said: "As a general clearing member of virt-x, HSBC Bank plc's
ability to clear and margin transactions from day one will enhance the multi
product services we provide to our clients. Rolfe & Nolan's development of
RANsys to support virt-x further extends the range of services available to
HSBC Bank plc."