FFastFill, the leading provider of modern and innovative middle office matching and allocation technology announces its readiness for clearing via the new Nyse Liffe Universal Clearing Platform (UCP).
NYSE Liffe is migrating its core trade and position management functionality before the end of 2012 to a new FIXML interface including CPS messaging which will run in parallel with the current TSCS / TRAMP clearing system. UCP will provide key benefits including machine readable reports with improvements in availability and improvements in performance from the implementation of new hardware. FFastFill delivers clearing services from both its SEALS and Prysm technologies.
FFastFill's matching and allocation system, SEALS is delivered as part of FFastFill's Software as a Service (SaaS) platform and from a high-specification, global datacentre network allowing international institutions to run a single clearing system throughout the globe.
Multi-geographical redundancy is built into SEALS from the core and all hardware and software is scaled to meet the demands of tomorrow's exchange volumes. Key benefits of the SaaS platform include reduced time to market, simple and straight forward set up for new clearing houses and users, fully managed upgrade processes and a highly skilled support network delivered from FFastFill's 24 hour global support desk.
The design and architecture of SEALS allows for clearing actions to be delegated to the trading company or NCM who are able to manage their own allocation and give ups thus reducing the administrative burden on the exchange member.
Caroline Davis, Managing Director - Business Development said: "FFastFill are pleased to be able to support NYSE Liffe in the adoption of its new and innovative clearing platform. We expect UCP to be able to deliver significantly enhanced performance which will allow FFastFill SEALS users to benefit from the significant investment we have made into our highly resilient and saleable real time clearing platform."
Declan Ward, Executive Director, NYSE Liffe Clearing - NYSE Liffe said: "I am delighted that FFastFill have worked closely with ouur teams to accelerate their implementation of the new FIXML interface. In addition to the performance uplift this is an important step in developing the clearing platform that will be the backbone of the new Recognised Clearing House which is planned to launch in mid-2013."