First Clearing taps Nyse Technologies for hosted transaction hub

Nyse Technologies, the global commercial technology unit of Nyse Euronext, today announced that it has been chosen by First Clearing, LLC, an affiliate of Wells Fargo & Company, to install its Hosted Transaction Hub.

  0 Be the first to comment

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Consisting primarily of its managed connectivity and Risk Management Gateway (RMG) platforms, NYSE Technologies will integrate this customized infrastructure alongside its core SFTI connectivity service to offer First Clearing enhanced routing capabilities, significant new risk management functionality and reduced overall operating costs. The Hosted Transaction Hub for First Clearing is scheduled to be fully operational in the first quarter of 2011.

"We are very excited to work with First Clearing to install this unique version of our Hosted Transaction Hub that creates a customer specific, high-performance solution that addresses their compliance and risk needs while enhancing their core technology," said Bruce Boytim, Vice President, Risk Management Gateway, NYSE Technologies. "As a fully managed solution, this core piece of trading infrastructure will help First Clearing utilize NYSE Technologies' diverse set of tools, resources and capabilities to consolidate various internal processes and dramatically improve performance."

"After a thorough review of competitors' offerings, it was clear that NYSE Technologies has the most robust risk management offering of this type available to the industry today. We are pleased to be partnering with the NYSE to implement solutions which enhance the protection of our businesses and those of our clients," said Albert Caiazzo, Managing Director at First Clearing.

Sponsored [Webinar] Beyond Open Banking – Exploring the Move to Open Finance

Comments: (0)

[On-Demand Webinar] Unifying Card Programmes: The cost-reduction imperativeFinextra Promoted[On-Demand Webinar] Unifying Card Programmes: The cost-reduction imperative