RBC Capital Markets deploys GL Clearvision middle office system in London
28 May 2008 | 2567 views | 0
Source: GL TRADE
GL TRADE, global provider of multi-market and multi-asset solutions for international financial institutions, today announced that RBC Capital Markets, an international corporate and investment bank operating in 15 countries, has migrated its London exchange traded derivatives business from EMOS to GL CLEARVISION eXtended, the group's enhanced middle office system.
Following the acquisition of EMOS system in June 2006, GL TRADE strongly enhanced GL CLEARVISION system with EMOS features to develop a new version called GL CLEARVISION eXtended.
Over the past 6 months, RBC Capital Markets and GL TRADE support and development teams have worked closely to ensure that GL CLEARVISION eXtended is up to the task. The client has completed a successful migration of its Liffe, LCP, Liffe Equities, ICE and Eurex Clearing from EMOS to GL CLEARVISION eXtended.
In addition, RBC Capital Markets has decided to expand the clearing operations conducted by GL CLEARVISION eXtended into other European derivatives markets which now include the London Metal Exchange, EURONEXT Derivatives in Paris, Amsterdam and Brussels, EDX London and other derivatives markets when using carrying brokers.
RBC Capital Markets comments: "GL CLEARVISION eXtended has successfully combined the best features of EMOS and GL CLEARVISION to provide a more user-friendly clearing interface."
GL TRADE London says: "We are very proud of this achievement and thank our partners at RBC Capital Markets for their help in achieving the launch of the new GL CLEARVISION eXtended. We believe this product will benefit not only RBC, but all existing EMOS and GL CLEARVISION users. By continuing to develop innovative products in close partnership with its customers, GL TRADE shows its commitment to the futures & options industry".
GL CLEARVISION eXtended interfaces with any trading system and processes high volumes of trades on both cash and derivatives markets. It facilitates the management and the automation of give-ups and take-ups, enabling same day reconciliation and thus reducing counterparty risk. It also provides real-time trade confirmations to any external system.