Future Dynamics Inc. the leading provider of workflow technology to the derivatives industry, is pleased to announce that Fortis Bank Global Clearing has selected Viewpoint, order matching and allocation engine, to automate the clearing management of its US derivatives business. The additional Viewpoint site in Chicago will extend the application’s global deployment within Fortis.
With connectivity to the Chicago Mercantile Exchange Common Clearing Link and the Clearing Corporation (Formerly BOTCC), Viewpoint will provide Fortis Chicago with a single interface for managing account allocation, give-ins, give-ups and split trades executed on the Chicago Board of Trade, Chicago Mercantile Exchange and Eurex US exchanges.
"Viewpoint has proven its strength through the high numbers of trades our clearing processes must handle," comments Bob Roos, Director of Global Clearing in Fortis Amsterdam. "Since successfully deploying Viewpoint in our London office in 1999, it has established itself as a critical product within our clearing operations. This led to the introduction of Viewpoint in Amsterdam in September 2003 to manage our GCM activity on the Clearing 21 based exchanges. Our choice to extend its use to include our Chicago office as well is viewed as a natural progression to create a common global clearing process."
In Europe, Fortis uses Viewpoint in London and Amsterdam to manage trades processed through LIFFE TRS, EUREX and CLEARING 21.
"The ability to reduce manual intervention while processing an increased number of trades allows us to redistribute resources in more strategic areas of business growth and client support," says Russell Levens, Chief Executive Officer of Fortis Clearing Chicago.
"We are very pleased with the progress of Viewpoint within Fortis globally," says Gerald Brown, Managing Director of Future Dynamics. "It is a testament to the product’s value and reliability that a major clearing member such as Fortis has standardized on Viewpoint."