SunGard has enhanced its suite of middle- and back-office derivatives solutions to support the clearing of Eurodollar and U.S. Treasury Futures via New York Portfolio Clearing, LLC (NYPC), a derivatives clearinghouse and joint venture between The Depository Trust & Clearing Corporation (DTCC) and NYSE EURONEXT.
Member firms can use SunGard’s Stream Derivatives solutions – Stream Clearvision, Stream GMI and Stream Ubix – to register and manage positions of NYPC’s listed interest rate futures. In addition, Stream GMI and Stream Ubix now support London SPAN-based margin calculations on NYPC-cleared futures and options based on risk arrays provided by NYPC.
Walter Lukken, chief executive officer of NYPC, said, “Regulatory reform is driving much change in the derivatives industry. Being able to offer middle- and back-office support via SunGard’s Stream solutions will help us offer our members a way to capitalize on these changes through a reliable, efficient and accurate means to manage the processing of listed interest rate futures and support risk-based margins.”
Laurent Jacquemin, global head of post-trade services for SunGard’s capital markets business, said, “SunGard continues to innovate as the derivatives industry evolves and new entities are launched. This strategy includes providing access to the latest platforms, products and technologies, such as the new cleared interest rate swap marketplace, to help our customers continue to grow their businesses efficiently and securely.”
