Key facts
- Wedbush Futures, one of the largest capitalized non-bank
futures commission merchants in the United States, will move its
operations processing and technology management to the FIS
Derivatives Utility.
- The firm plans to migrate to the FIS utility in the first
quarter of 2018.
- Wedbush Futures joins Barclays and Credit Suisse as clients of
the FIS Derivatives Utility managed service.
Wedbush Futures, one of the largest capitalized non-bank futures
commission merchants (FCMs) in the United States, has selected the
FIS™ (NYSE: FIS) Derivatives Utility to support clearing operations
processing and manage the technology for its exchange traded
derivatives (ETD) business.
Wedbush Futures joins Barclays and Credit Suisse as clients of
the FIS Derivatives Utility, a managed service that provides
derivatives clearing operations and technology services for capital
markets firms, based on industry leading FIS post-trade
technology.
By migrating its post-trade futures and options operations and
technology to the FIS Derivatives Utility, Wedbush Futures expects
to benefit from greater middle and back-office processing
efficiency and simplified regulatory compliance and application
upgrade projects. Wedbush Futures will migrate in the first quarter
of 2018.
Rich Jablonski, EVP of Wedbush Securities and CEO of Lime
Brokerage says, “We are elated to extend our global relationship
with FIS. Leveraging its Derivatives Utility will expand Wedbush
Futures’ capabilities, enabling Wedbush to better serve our
clients.”
“Moving to the FIS Derivatives Utility is a natural step in the
evolution of our business, allowing us to better focus on
delivering exceptional client service to our growing client base
and expanding our product and market coverage,” stated Bob
Fitzsimmons, Managing Director, and Head of Futures, Wedbush
Futures. “As a valued and trusted technology provider for our
clearing business, migrating our operations processing and
technology management to the FIS Derivatives Utility is a natural
next step in our post-trade processing evolution.”
“We are thrilled to welcome Wedbush Futures to our growing
roster of FIS Derivatives Utility clients,” said Marianne Brown,
chief operating officer, Institutional and Wholesale, FIS. “Today’s
capital markets firms need ways to lower their costs and
differentiate themselves in an increasingly competitive industry.
By leveraging the FIS Derivatives Utility, Wedbush Futures and our
other clients can benefit from powerful economies of scale
delivered through the investments we have made in leading-edge
automation and real-time processing technology.”
The FIS Derivatives Utility provides customers with derivatives
clearing operations and technology services for trade clearing,
trade lifecycle management, margin processing, brokerage,
reconciliation and data management.
About FIS
FIS is a global leader in financial services technology, with a
focus on retail and institutional banking, capital markets,
payments, asset and wealth management, risk and compliance, and
outsourcing solutions. Through the depth and breadth of our
solutions portfolio, global capabilities and domain expertise, FIS
serves more than 20,000 clients in over 130 countries.
Headquartered in Jacksonville, Fla., FIS employs more than 53,000
people worldwide and holds leadership positions in payment
processing, financial software and banking solutions. Providing
software, services and outsourcing of the technology that empowers
the financial world, FIS is a Fortune 500 company and is a member
of Standard & Poor’s 500® Index. For more information about
FIS, visit www.fisglobal.com.
Follow FIS on Facebook (facebook.com/FIStoday) and Twitter
(@FISGlobal).
About Wedbush Futures
Wedbush Futures, a division of Wedbush Securities Inc., is one
of the largest non-bank Futures Commission Merchants (“FCM”) in the
United States. The division specializes in clearing and financing
activities for professional traders, institutions, and commercial
clients. Located in Chicago, Wedbush Futures is at the forefront of
our business, with deep industry specialization and a distinguished
track record in financial derivatives. Our client relationships are
built on trust and supported by our firm, which is rooted in
experience, stability, and innovation.
About Wedbush Securities
Since our founding in 1955, Wedbush has been a leader in the
financial industry providing our clients with a wide range of
services; including institutional sales, correspondent clearing
services, equity research, corporate and municipal finance, equity
market making, fixed income trading, prime brokerage, and wealth
management. Headquartered in Los Angeles, with 100 registered
offices, the firm focuses on dedicated service, client financial
safety, continuity, and advanced technology.
Follow us on Twitter @Wedbush.
Forward-Looking Statements
This press release may contain statements, estimates or
projections that constitute “forward-looking statements” pursuant
to the safe harbor provisions of the U.S. federal securities laws.
Generally, the words “believe,” “expect,” “intend,” “estimate,”
“anticipate,” “project,” “will” and similar expressions identify
forward-looking statements, which generally are not historical in
nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from FIS’ historical experience and our present expectations or
projections. These risks include, but are not limited to, changes
in general economic, business and political conditions,
developmental and conversion delays or disruptions inherent with
new software products, technology and outsourcing solutions, and
risks of reduction in revenue from the elimination of existing and
potential customers due to consolidation in or new laws or
regulations affecting the banking, retail and financial services
industries, changes in the growth rates of the markets for our
solutions, and other risks detailed in our filings with the
Securities and Exchange Commission (SEC), including the “Risk
Factors” section of our Annual Report on Form 10-K for the year
ended December 31, 2016, and subsequent SEC filings. You should not
place undue reliance on forward-looking statements, which speak
only as of the date they are made. FIS undertakes no obligation to
publicly update or revise any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20180109005297/en/
Kim Snider, +1.904.438.6278Senior Vice PresidentFIS Global
Marketing and Communicationskim.snider@fisglobal.comorNatalie A.
Svider, 213.688.8057Senior Vice President and Marketing
DirectorWedbush Securitiesnatalie.svider@wedbush.com
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