FIS and Credit Agricole launch post-trade utility

FIS and Credit Agricole launch post-trade utility

FIS has paired with Crédit Agricole Corporate & Investment Bank to launch a post-trade utility for the derivatives market.

The utility combines the existing platform of Crédit Agricole CIB with the tech expertise of FIS and was designed to meet the needs of corporate and investment banking firms worldwide for shared IT services for cross-asset derivatives.

The partners say the platform is capable of handling all aspects of the post-trade lifecycle, from trade booking to sub-ledger management, reducing the unit cost of execution and increasing efficiency.

Jean-Yves Hocher, chief executive officer of Crédit Agricole CIB says the utility approach makes sense for corporate and investment banks who seek economies of scale.

"It is a new way of considering IT and will allow Crédit Agricole CIB to be nimble in a rapidly changing industry,” he adds.

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