UOB Bullion and Futures Chooses SunGard for Trading and Clearing
Managed Services Will Support Processes on Major Global Exchanges
UOB Bullion and Futures (UOBBF), the brokerage arm of United Overseas Bank (UOB), has deployed solutions provider SunGard's post-trade cross-asset processing solution and managed services to support its trading and clearing services on major global exchanges.
SunGard says its managed services will support UOBBF's cross-asset trading and post-trade processes, including clearing, custody and settlement, across Asian and global markets.
In the past year, UOB has expanded its derivatives business to major global exchanges, such as the Eurex Exchange, through clearing memberships. UOB is also the first Asian bank to offer clearing services for transactions on the Eurex Exchange.
Singapore-based CEO of UOBBF, Matthew Png, says: "SunGard's robust cross-asset solutions have allowed us to enhance the efficiency of our back-end operations for the trading and clearing of various asset classes including derivatives, foreign exchange and securities. This translates to a faster onboarding process and shorter time to market when creating investment opportunities and products for our customers."
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