FIS Delivers Derivatives Solution to Societe Generale to Power Technology Transformation
June 07 2022 - 8:00AM
Business Wire
Key facts:
- As part of the agreement, Societe Generale selects FIS solution
for the strategic transformation of its derivatives clearing
back-office.
- FIS Cleared Derivatives Suite will provide Societe Generale
with a new high-performing and modernized technology platform that
handles trade clearing and settlement services.
FIS® (NYSE: FIS) announced today that Societe Generale has
signed an extended agreement, selecting the financial technology
leader for the strategic transformation of its derivatives clearing
and settlement technology. As part of the agreement, the investment
bank and financial services group will transition their existing
derivatives clearing and settlement IT environment to FIS Cleared
Derivatives Suite.
“The listed derivatives clearing business is a core part of our
Prime Services business franchise at Societe Generale. We are
recognized by our customers, and the industry, as a market leader
in this space. Our decision to select FIS to provide our next
generation post-trade clearing technology, represents a significant
investment, with a trusted partner, to support the long term growth
of this business,” said Christophe Lattuada, Chief Operating
Officer of Global Banking & Investor Solutions (GBIS) at
Societe Generale.
“As derivatives clearing firms seek ways to limit risks while
reducing operational costs, they are embracing the transformational
change of their ecosystem and operating model,” said Nasser Khodri,
Head of Capital Markets at FIS. “We’re delighted that a key player
in the market such as Societe Generale chose FIS to achieve this
journey and strengthen our long-standing relationship.”
FIS Cleared Derivatives Suite is a high-performing and
modernized technology platform which will be seamlessly integrated
with the existing client’s infrastructure and covers end to end
post-trade derivatives processing requirements.
About FIS
FIS is a leading provider of technology solutions for financial
institutions and businesses of all sizes and across any industry
globally. We enable the movement of commerce by unlocking the
financial technology that powers the world’s economy. Our employees
are dedicated to advancing the way the world pays, banks and
invests through our trusted innovation, system performance and
flexible architecture. We help our clients use technology in
innovative ways to solve business-critical challenges and deliver
superior experiences for their customers. Headquartered in
Jacksonville, Florida, FIS is a member of the Fortune 500® and the
Standard & Poor’s 500® Index. To learn more, visit
www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter
(@FISGlobal).
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version on businesswire.com: https://www.businesswire.com/news/home/20220607005094/en/
Kim Snider, +1 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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