‘SEF in a box’ launched by Baymarkets and Cleartrade Exchange

Singapore, Stockholm and London - 7 October 2011

Baymarkets, one of the leading developers and suppliers of specialist trading, risk and exchange software to the financial markets, announced today the launch of their ‘SEF in a box’ which incorporates everything required to enable an electronic trading venue. This uses the same proven technology already powering the Cleartrade Exchange platform and includes all links, APIs, advanced tools for hedging and risk management, recaps/revals, position keeping and connectivity to settlement and clearing facilities. The ‘SEF in a box’ is easily and quickly available via cloud technology as a ‘Software as a Service’ and combines all the elements for an electronic trading platform in one package.

Peter Fredriksson, CEO and co-founder of Baymarkets, said, “Electronic and hybrid trading is the clear evolution of the market. With the new global regulatory climate as a driver, our ‘SEF in a box’ provides brokers with a low-cost route to electronic trading, settlement and clearing services. We are extremely pleased Cleartrade Exchange has agreed to offer this white-labelled package to its clients.”

The new Baymarkets’ technology will be sold and marketed by the Cleartrade Exchange (CLTX), based in Singapore and London.

The package will offer full client-branded front-end functionality, price discovery, trade execution, recaps, settlement, clearing and revaluations and enables clearing and settlement through the most appropriate route. The package has the necessary toolkit for complex combination spreads, asset chain trading recaps and data distribution.

Richard Baker, CEO of Cleartrade Exchange (CLTX), added, “This white-label version of the Baymarkets technology is an exciting offer for the market where brokers want best-in-class hybrid trading technology and a partner who can help on the regulatory journey. It can be used by boutique broker firms with several clients or international brokerage houses with multiple clients. It can be configured as a stand-alone private market operated by brokers or hedge funds, with the added benefit of being pre-integrated with the CLTX platform. The ease of set-up and fast deployment are valuable parts of the phased approach to embracing the new regulatory frameworks which are rapidly affecting the trading of OTC derivatives.”

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