SunGardâs Stream solutions for post-trade derivatives processing provide middle-office trade matching and allocations, clearing and accounting for listed derivatives, and real-time, global back-office processing for multi-entity companies. The solutionsintegrate in the middle-office to manage transactions between SunGardâs back-office systems and CME Group. While execution of the products occurs in an OTC environment, each counterparty using Stream will be able to receive cleared trades from CME Clearing for accurate and efficient post-trade recordkeeping, clearing and settlement of the Forwards products.
Michael OâConnell, managing director of CME Clearing at CME Group, said, âCentral clearing can provide a crucial element to help reduce risk exposure among counterparties in OTC markets. SunGard is helping to automate the process of clearing, settlement and recordkeeping, which helps ourmembers create efficiencies aroundpost-trade processing, operational risk, and credit exposure management.â
Richard Hulit, executive vice president of SunGardâs position, risk and operations business, said, âAs more OTC derivatives instruments move to a centrally cleared model, FCMs and brokers need established connectivity to clearinghouses to support post-trade processing and workflows. SunGardâs Stream solutions for listed derivatives remain at the forefront of supporting the evolving OTC derivatives landscape.â