Duco, the global fintech provider of data control services, announced further growth in the listed derivatives space today at the 32nd FIA Expo in Chicago.
Duco has signed two leading, global FCMs to Duco Cube, its award-winning hosted reconciliation platform, and both clients will benefit from recent enhancements to the service.
One of the new clients, ADM Investor Services, Inc. ("ADMIS") is among the world's largest non-bank FCMs and has committed to a multi-year, global agreement with Duco. In addition, Duco has signed a large US-based, global bank for their FCM and other business units. This brings the total number of Duco's FCM clients to twelve.
Tom Kadlec, President of ADMIS, comments: "We selected Duco to enhance our global post trade operations, increase our efficiency and automate a number of processes in our Chicago headquarters as well as at our affiliated clearing companies in London, Hong Kong and Singapore. We have been impressed with the deep functionality and speed of deployment as a self-service tool. We are always looking at ways to adapt leading technologies to support our growing business."
Christian Nentwich, CEO of Duco, added: "We are delighted to be working with two new clients, including ADMIS, and look forward to developing both relationships over the next few years. Duco Cube is now the recognized leader in its field and the addition of two more FCMs as clients underlines this."
Duco has also announced further enhancements to its service including SWIFT connectivity for cash reconciliations, a complete rewrite of the workflow platform and a total equity reconciliation feature that is being beta tested by a group of banks, FCMs and buy-side clients.