Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

CREDIT SUISSE, LEADER IN GLOBAL CLEARED DERIVATIVES, SELECTS FIS DERIVATIVES UTILITY

 

Key facts
  • Credit Suisse is the most recent global capital markets firm to adopt the FIS Derivatives Utility.

 

  • Credit Suisse will migrate its post-trade futures and cleared over-the-counter derivatives operations and technology to the utility model.

 

  • The implementation will expand FIS’ utility operations and technology.

 

Credit Suisse, a leader in the global cleared derivatives industry, has selected the Derivatives Utility from FIS™ (NYSE: FIS), a global leader in financial services technology, for its post-trade futures and cleared over-the-counter (OTC) derivatives operations and technology.

The FIS Derivatives Utility was designed to help global capital markets firms better adapt to market challenges by enabling market participants, including futures commission merchants (FCMs), to achieve greater efficiencies by leveraging economies of scale in middle- and back-office processing and technology. The utility provides customers with derivatives clearing operations and technology services for trade clearing, trade lifecycle management, margin processing, brokerage, reconciliation and data management.

“The evolution of derivatives markets has increased both the demand and the necessity for innovative solutions that transform the business model for derivatives clearing,” said Marianne Brown, chief operating officer, Institutional and Wholesale, FIS. “Our vision for a derivatives utility uses FIS’ existing, market-leading IP to reduce operational risks and costs while increasing efficiency throughout the industry. By providing industry leadership and a potential path for the market, we look to achieve best practices around standardized processes that can benefit all market participants. Credit Suisse brings broad depth and expertise in cleared derivatives, as well as an extensive worldwide footprint.”

“As the market moves away from bilateral swaps and towards cleared products, Credit Suisse is better positioned to continue to deliver innovative solutions and products to our clients in the most efficient manner possible. Leveraging the FIS Derivatives Utility will allow us to spread the cost of innovation amongst a larger group of firms by creating a standardized solution developed by the industry’s top experts.” said John Dabbs, global head of Prime Derivatives Services, Credit Suisse. “We believe this Utility will transform the economics for derivatives market participants globally.”

The technology that supports the FIS Derivatives Utility is an evolving, global back-office processing platform for cleared OTC and listed derivatives. It covers more than 135 cleared derivative markets in more than 35 countries.