FNX and NTT Data in Japanese ASP joint venture
19 March 2002 | 1940 views | 0
Trading systems vendor FNX Limited (FNX) has teamed up with systems integrator NTT Data to deliver a cross product ASP service to the Japanese financial community.
The FNX/NTT Data system will provide Sierra Treasury’s full range of trading, risk management and back office capabilities on a fully outsourced basis. In addition, the ASP service will also handle data maintenance tasks, including disaster recovery and stable data centre operations.
The service will initially be offered to 23 regional institutions currently using NTT Data products, with the goal of expanding the reach of the system both across instrument coverage and to new institutions. The service is slated to go live in August and will be rolled out to beta clients shortly.
Initial products to be covered include interest rate derivates, FX cash, and FX options with future offerings of exchange products, fixed income, and equities coverage.
Farid Naib, CEO and founder, FNX Limited comments: “The NTT Data deal marks our largest ASP venture to date and points to the growing maturity of the ASP market. It’s also significant as it the first publicly announced ASP service for the financial community in Japan."
The system will be available in Japanese and English.