CCorp intends to sell and support the ExchangeSys Eclipse back office solution on an exclusive basis in North America. CCorp will also link Eclipse to its ECS platform to offer complete straight through processing for the global futures & options markets and OTC derivatives cleared at CCorp.
The ExchangeSys technology platform is the multi-asset Eclipse financial toolkit and is currently used in Europe as a back office system for futures, options, spot and forward FX, securities, contracts for difference and other OTC instruments. ExchangeSys utilizes industry standard hardware and software components (such as Oracle, Sun and J2EE) on which financial services firms are looking to consolidate processing of their trading business and realize economies of scale.
Eclipse will be a component in CCorp's recently announced Conceroâ¢ over-the-counter (OTC) clearing and cash market settlement service platform. Richard Jaycobs, CEO of The Clearing Corporation said, "By adding the Eclipse back-office solutions to our own clearing services, we can deliver low-cost processing to our clearing participants and eliminate the technology bottlenecks associated with new product offerings."
Rob Lowry, Managing Director of Exchange Systems Technology offered, "We are delighted to have been chosen as a partner to such a distinguished institution as The Clearing Corporation, and we are extremely pleased to know that our products will be offered by a firm known for operational excellence and reliability."
Brett Paulson, President and COO of CCorp added, "The comprehensive scale of technology services we provide to our clearing participants and equity holders has always been a core strength and competitive differentiator for CCorp; today's agreement gives us an opportunity to expand and enhance the value of those offerings."