chicago mercantile exchange

Sucden Financial to Deploy ATEO’s LISA Clearing Engine

Multi-asset execution and clearing provider Sucden Financial has selected ATEO’s LISA Clearing Engine to run its middle-office platform. The engine provides off-the-shelf connectivity to all major clearinghouses as well as the ETD eco-system. This includes execution platforms, major clearers, and third party clearing and confirmation systems.

David Romeo, Managing Director at ATEO Finance, said: “We are extremely pleased to confirm that SUCDEN FINANCIAL is now live with our Lisa Clearing Engine middle-office platform. This is the result of a very thorough selection process and fast-track implementation. With five out of the nine category-one firms on London Metal Exchange (LME) now using our products, ATEO is clearly positioned as the undisputed leading provider of clearing platforms for commodities.”

Gavin Parker, Chief Operating Officer at Sucden Financial, commented: “We are delighted with Lisa Clearing Engine, which provides connectivity to all our clearing partners and improves operational efficiency. We worked closely with ATEO, who swiftly adapted their solution to match our specific requirements and cover our extensive range of markets.”

The portfolio of post-trade solutions for the Listed Derivatives industry offered by ATEO includes a global blotter, real-time risk management tools, and a clearing and matching system. The firm, which was founded in 2000, has built a roster of leading clients across the globe, from leading banks to trading houses and professional traders.

Regarding Sucden Financial’s post-trade efforts, the firm joined Cobalt’s technology network last year. The infrastructure creates a single trusted set of standardized trade data from which Sucden Financial can utilize Cobalt’s range of middle and back-office trade solutions.

Also in 2020, Sucden joined OTC market TrueFX as a Clearing Member (TCM) to support their clients’ access to liquidity on the network. The TCM network allows buy-side firms of all sizes to directly access liquidity on TrueFX from leading market makers without an intermediary. TrueFX allows for unlimited small tickets and includes connectivity, aggregation, and MT4/MT5 bridging technology.