Duco Technologies, a fintech provider of data control services, has teamed up with derivatives marketplace, CME Group, launching a new agreement to restructure its respective member firms’ fee control processes, according to a Duco statement.
Duco Technologies is a recently launched subsidiary of Duco, serving as a comprehensive technology provider for the fintech space – its paramount product includes Duco Cube, which helps provide on-demand reconciliation services that can be analyzed on a web based front end.
The agreement itself between CME Group and Duco Technologies will see the integration of Duco’s reconciliation service to its membership constituency, in essence streamlining the flow of its fee structures and processes. These gains will be garnered from the ability to circumvent additional investments in infrastructure or IT resources. Moreover, Duco Cube will also play a role in the accord, helping ensure that the firms’ back-office systems are congruent with CME Group’s exchange fee pricing components.
Is it Time For Banks to Move Over And Create Space For Blockchain?Go to article >>
According to Duco’s Chief Executive Officer (CEO) and co-founder Christian Nentwich, in a recent statement on the partnership: “We’re very excited to collaborate with CME Group on this critical offering that will significantly improve efficiency for the nearly 350 clearing and non-clearing firms it serves.”
“Intelligent, low-touch solutions that can deliver immediate results without lengthy implementation projects are vital to driving the transformational change the industry is undergoing. CME Group, which has been at the forefront of innovation, is embracing this approach with Duco, delivering a powerful tool into the hands of its customers,” he added.
This partnership will go a long way to help CME Group member firms further improve a crucial element of the trade cycle
“We already have a number of FCM customers using Duco Cube for a wide range of reconciliation and workflow tasks. This partnership will go a long way to help CME Group member firms further improve a crucial element of the trade cycle, paving the way for other data control opportunities. This agreement illustrates the importance of a close working collaboration between fintech and global infrastructure providers,” reiterated Patrick Thornton-Smith, Chief Marketing Officer at Duco, in an accompanying statement.