ODL Securities signs for Eclipse back office system

Source: Exchange Systems Technology

ODL Securities, a rapidly growing on-line financial brokerage, has recently signed a five year, seven figure, contract with Exchange Systems Technology (EST) for Eclipse the multi-asset back office system.

Eclipse will be providing a complete processing platform to handle listed derivatives, equities including a CREST interface, PEPs, ISAs, SIPPs, CFDs, fixed income products, OTCs and spread betting activities.

Adrian Weekes, CEO of EST, comments: "We are delighted with this landmark order from ODL Securities, which demonstrates our leadership in cross-asset
processing. Since inception EST has continually extended the range of assets which can be supported on our platform, focussing primarily on the derivatives area. The acquisition of SAM Systems in 2005 was designed to add full equities processing to our solution, and the ODL contract represents a new milestone in providing an integrated cross-asset solution."

Commenting from ODL Tom Higgins, CTO, says,"ODL has been on a huge growth curve in terms of volumes, markets, products and clients year on year and our ambitions are to accelerate this trend. Such growth has meant that we had to review our entire technology environment and look to not only upgrade but to consolidate product lines under one platform. Our business is one where multi-asset capabilities mean exactly that and being able to work in real time is fundamental for our current and future plans. We have been a user of MarginClick for some time and after a lengthy review we selected Eclipse and EST as our partner for this crucial project. We look forward to working with them in the future as the ODL of today will be different tomorrow!"

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