Futures industry technology provider FIA Tech has announced additional support for block traded futures and options on its settlement platform Atlantis. The firm claims in a press release that this enhanced support “delivers much needed automation to a large and fragmented segment of futures and options trading”.
The nature of block trading is such that the size, complexity, and value of trades are often higher – characteristics that are incompatible with existing invoicing and collection processes, which remain highly manual. According to FIA Tech, delays with these older processes are common.
With the additional support, Atlantis is now facilitating the invoicing and collection of around US$1 billion annually in exchange traded derivatives (ETDs) as well as US listed options brokerage across 53 executing brokers, and 33 clearing firms and buy-side clients. FIA Tech reveals that it has worked with the industry on a common invoice format and process in order to create operational synergies for the latter two.
FIA Tech CEO Nick Solinger says, “Having all revenue on a single global platform creates efficiencies and synergies for executing firms and their clients, improving their time to revenue and reducing costs.”
