Hong Kong’s premier commodity exchange, HKMEX has signed up to FFasFill’s SEALS and Eclipse software to enhance its connectivity and processing of orders. HKMEX whose shareholders include ICBC is positioning itself as the proffered executing venue for trading Asian financial contracts in particular Chinese instruments. The exchange plans to launch Yuan denominated metals contracts that are settled in US dollars.
HKMEX has successfully integrated their middle office application SEALS and back office system Eclipse to HKMEx. Through the completion of conformance testing to HKMEx post-trade gateways, trades can now be auto-allocated within the SEALS middle office application and uploaded in real-time into Eclipse for clearing and settlement.
FFastFill extends its existing trading connections to HKMEx by offering clearing services to global commodity participants. FFastFill Software as a Service (SaaS) delivery model offers HKMEx connectivity in highly scalable, service orientated model, with native Straight Through Processing (STP) support.
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SEALS is a comprehensive real-time middle office allocation and order matching tool delivered as a high performance, high availability SaaS solution, integrated with clearing risk management. Eclipse is a functionality rich back office system that can clear and settle multi asset class products including global exchange traded derivatives, OTC, FX, equities, options, CFDs and other cash markets.
Ian Kessell, Managing Director, Business Development at FFastFill, commented, “HKMEx being an innovative exchange further demonstrates our commitment to participants of the global commodity markets and to our expansion into Asia. This extension of our trading and clearing capability further demonstrates our commitment to delivering enhanced STP efficiency to our global clients.”
William Barkshire, Co-President of HKMEx commented, “FFastFill has a strong presence in commodities and base-metals trading. The addition of their SEALS and Eclipse to our eco-system of middle and back-office applications complements HKMEx’s plans to launch renminbi-denominated precious and base metals futures. This is a positive step for our Exchange as we continue to further reach out and engage with the global commodity futures community.”