SunGard Futures launches hosted version of Octagon

SunGard Futures launches hosted version of Octagon

SunGard Futures Systems has launched an application service provider (ASP) version of Octagon, its trade management, processing and accounting system for Central European exchange-traded derivatives and futures.

Octagon provides high-volume processing and accounting for exchange-traded derivatives, futures and options, from order to clearing and settlement. SunGard says its hosted system - called Octagon IT Services - will provide a secure, outsourced middle and back office processing for futures commission merchants trading in Germany and throughout Central Europe.

Joachim Holzer, managing director of SunGard Futures Systems' Central European operations, says the hosted service will provide real-time access to data and external interfaces with exchanges and regulatory authorities as well as multi-level system security and full backup and recovery through SunGard Availability Services.

"With Octagon IT Services, futures brokers can effectively reduce costs and reliance on internal resources to maintain systems in-house, while improving their operational efficiency, system availability and scalability," adds Holzer.

The ASP system also integrates with other SunGard appications for futures trading, including Exchange Gateway for retrieving trade information from MISS Architecture and OM-Net based exchanges, WorldSource for worldwide daily revaluation data and Global Margin Server for initial and intraday variable margin calculations.

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