Man Group's brokerage arm, Man Capital, has selected Pennsylvania-based Financial Software Systems’ Spectrum system to manage its foreign exchange and FX margin trading businesses.
The brokerage will initially deploy Spectrum in its London, New York, and Chicago offices, to manage its trading activities in FX spot & forward contracts, OTC FX options, and FX futures.
The system will provide Man Capital with P&L calculations, management of clients' collateral, calculation of clients' margin positions and margin calls, and monitoring of counterparty limits. Spectrum’s calculation engines have demonstrated in production environments the ability to process over 10,000 transactions a day in a 24-hour trading environment across multiple financial centres.
Spectrum will be installed at Man Capital on a Windows 2000 platform utilising Microsoft's SQL 2000 database server.