Paris-based capital markets software vendor Ubitrade is to offer clients its derivatives clearing and settlement system, Ubix, on an application service provider (ASP) basis.
The new offering, which is aimed at institutions that are wanting to outsource back-office processing, will also include facilities management services.
Clients will continue to manage in-house confidential data, while Ubitrade will handle public market data and manage all back office processing, including exchange connectivity and trade capture, contract and price management, printing, e-mail and fax, and regulatory reporting.
The Ubix system is based on Citrix thin client, remote-access technology which allows users to access the service via the Internet.
Didier Varlet, chairman, Ubitrade, says: "Ubitrade's ASP and facilities management services are the outcome of more than a year of research and development. As a software vendor, it is our role to meet our clients' needs and to provide best-of-breed technology, adapted to the market players' expectations."