CME and Duco bid to streamline fee processing
18 October 2016 | 3109 views | 0
CME Group, the world's leading and most diverse derivatives marketplace, and Duco Technologies, a global fintech provider of award-winning data control services, today announced that Duco’s innovative data control and reconciliation services will be available to CME Group member firms starting in January 2017.
The launch follows a successful six-month trial period with a limited number of futures commission merchants (FCMs).
Duco’s service will enable CME Group member firms to simplify processes around fee structures without investing in infrastructure or IT resources. Duco Cube will ensure that the firms’ back-office systems are aligned with CME Group’s exchange fee pricing components.
CME Group Chief Commercial Officer Bryan Durkin said, “We’re pleased to offer our member firms an innovative solution to help streamline their current fee processes. Duco’s service will reduce manual work, drive efficiency and ensure accuracy between parties.”
“We know that data control in its broadest sense is now one of the most critical areas for all FCMs, their clients, global exchanges like CME Group, and regulators. Working with CME Group during the last six months has shown how our agile, self-service tool can be quickly adopted by both the CME Group data environment and its members’ back office systems,” added Christian Nentwich, CEO of Duco.