INTL FCStone Inc. (NASDAQ:INTL), a provider of diversified financial services across several asset classes and markets, has selected ATEO’s suite of products as its future middle-office platform.
After rolling out TEO Derivatives and LISA Clearing Engine solutions across its US and London-based FCM operations, INTL FCStone is now achieving additional operational efficiencies including the ability to manage sophisticated requirements, new exchange offerings, and evolving regulatory developments.
Specifically, TEO Derivatives allows traders to capture their executions from multiple marketplaces and execution platforms. It also allows them to aggregate and allocate their trades, send real-time confirmations to end-clients, and feed downstream systems.
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In turn, LISA Clearing Engine is a matching and allocation system which provides allocation algorithms, coverage of several operational requirements, monitoring and audit trail, integration with all third-party systems.
INTL FCStone Financial serves institutional clients, by providing them with access to blue chip international securities and ADRs. During 2017 alone, the company was attributed a combined $29 billion in OTC trading, which accounted for 15 percent of all OTC value reported.
Jose Lopez, ATEO’s Director, commented: “We are extremely pleased to confirm that INTL FCStone has picked ATEO Finance as its future middle-office platform provider. As usual, in a very competitive environment, I believe the range of our products, as well as our capacity to partner with our clients made the difference. We are very pleased to welcome INTL FCStone as a new ATEO Finance customer. With ADM Investor Services, RJ O’Brien and now INTL FCStone, ATEO Finance serves 3 out of the 5 independent US brokers and 4 out of the 9 CAT1 firms on LME. This is a major milestone and clearly establishes ATEO Finance as a true alternative in the ETD middle-office space, at a time where numerous changes are happening in that space.”
Tim Mundt, INTL FCStone Inc.’s Global Head of Derivative Operations, added: “ATEO will enable us to more efficiently meet the needs of our customers and realize our goals for growth with a scalable solution to support our middle office operations. We appreciate ATEO’s ability to understand our requirements and craft a solution to meet our needs.”