SunGard has enhanced its Stream Derivatives suite of solutions to support trading on Nasdaq OMX NLX (“NLX”), the new London interest rate derivatives trading venue. NLX will offer a range of both short- and long-term interest rate (STIRs and LTIRs) euro- and sterling-based listed derivatives products beginning in Q1 2013, subject to Financial Services Authority approval.
SunGard’s Stream Derivatives suite of solutions provides a variety of clearing and settlement functions, helping NLX members mitigate operational risk and create processing efficiencies. The suite includes Stream Clearvision, which supports connectivity to NLX as well as allocations, give-ups, take-ups and split management, and Stream GMI and Stream Ubix, both of which offer trade load and position keeping, valuation and reconciliations.
Charlotte Crosswell, chief executive officer of NLX, said, “Regulatory reform is driving significant change in the derivatives industry, and NLX is well positioned to help our members capitalize on these changes. Partnering with solutions providers that are readily accessible and familiar to our members is a key part of the NLX offering. SunGard’s post-trade solutions for derivatives provide a reliable, efficient and accurate means of managing the processing of NLX listed interest rate derivatives.
Laurent Jacquemin, executive vice president of post-trade derivatives for SunGard’s capital markets business, said, “SunGard continues to combine its deep expertise in derivatives with technological innovation to give customers like NLX access to the latest clearing platforms and products. SunGard is helping its customers take full advantage of the changes buffeting the derivatives industry and grow their businesses efficiently and securely.”