SunGard will support trading on the new London interest-rate derivatives venue, Nasdaq OMX NLX, through its Stream Derivatives suite.
NLX is scheduled to open in the first quarter of next year, subject to regulatory approval from the Financial Services Authority. SunGard's Stream Derivatives suite will provide clearing and settlement services and risk mitigation.
"Regulatory reform is driving significant change in the derivatives industry, and NLX is well positioned to help our members capitalize on these changes," says Charlotte Crosswell, CEO of NLX. "Partnering with solutions providers that are readily accessible and familiar to our members is a key part of the NLX offering. SunGard's post-trade solutions for derivatives provide a reliable, efficient and accurate means of managing the processing of NLX listed interest rate derivatives."
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