Hagerty Grain switches to Ubix

Hagerty Grain switches to Ubix

Chicago-based brokerage and clearing firm Hagerty Grain has sigend up to Paris-based Ubitrade's derivative back office system, Ubix.

Ubitrade says its Ubix system will replace SunGard's back office clearing system, GMI, which Hagerty Grain was using on a service bureau basis.

Ubix will be used to clear both floor and electronic trades on the CBOT as well as on other US markets.

Commenting on the implementation, William Hagerty, CEO of Hagerty Grain, says: "Hagerty gained a level of flexibility not available before Ubix."

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