28 October 2016
Visit www.dh.com

Formicary gets SwapClear CCP2 certification

29 January 2014  |  992 views  |  0 Source: Formicary Limited

Formicary Limited, a niche provider of consultancy and integration software to the financial services industry, is now a qualified partner in the SwapClear Consultancy Certification Program (CCP2).

Formicary has been engaged with LCH.Clearnet for over five years, initially providing technical assistance with SwapClear's successful handling of the Lehman Brothers default. The technology consultancy has since played an integral role in several initiatives at LCH.Clearnet, including the development of the ClearLink trade interface and various member-facing applications, such as tools for margin simulation and collateral management.

Formicary's Clearing Group has helped a number of organisations to attain SwapClear membership and has enabled others to integrate their derivatives trading systems with SwapClear processes. Formicary's knowledge of SwapClear business practices and technology enables it to provide both existing and prospective members with efficient working solutions which comply with CCP membership requirements. Services include onboarding new members, design and implementation of default management procedures, margin replication, reporting and reconciliation automation, and trading and risk systems integration. These services and Formicary's DMP solutions provide Formicary's clients with a solid foundation and the ability to grow in line with new service offerings from LCH.Clearnet and changing industry regulation.

"Getting the technology implementation right is vital in this ever-changing OTC trading environment", says Dee Dervish, director at Formicary. "Attaining formal CCP2 membership demonstrates both our experience and our commitment to offering SwapClear members first-class technology integration solutions, enabling them to concentrate on their business while minimising the technology burden of increasing regulation.

"As a CCP2 partner, we are well positioned to put our specific technical integration skills, clearing knowledge and experience at the service of LCH.Clearnet SwapClear members and end users, helping them to minimise the costs of LCH.Clearnet membership." 

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Find out morehttp://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit capgemini.com

Top topics

Most viewed Most shared
Monzo raises £4.8mMonzo raises £4.8m
9073 views comments
CBA and Wells Fargo combine blockchain and IoT to revolutionise trade financeCBA and Wells Fargo combine blockchain and...
8895 views comments | 26 tweets | 32 linkedin
hands typing furiouslyThe day I realized Fintech was becoming ju...
8735 views 2 | 23 tweets | 8 linkedin
Robo-advisors not ready to replace humans - Credit Suisse execRobo-advisors not ready to replace humans...
8414 views comments | 18 tweets | 18 linkedin
China emerges as fintech powerhouse as UK dominance weakensChina emerges as fintech powerhouse as UK...
8282 views comments | 31 tweets | 27 linkedin

Featured job

Find your next job