Baymarkets to Support SIX x-clear’s Clara Clearing Solution

Baymarkets to Support SIX x-clear’s Clara Clearing Solution
02.03.2016 11:45 am

Baymarkets to Support SIX x-clear’s Clara Clearing Solution

SIX x-clear Ltd and Baymarkets are pleased to announce that they have entered into an agreement whereby the support, maintenance and continued development of the Clara clearing system has been taken on by Baymarkets.
 
Since 2010 SIX x-clear’s Clara has been used as the platform for central counterparty clearing on trades in equities, equity certificates, derivatives, SLB contracts and ETFs for their Nordic customer base. SIX x-clear will continue to use Clara and will further expand the use of the platform for clearing of additional Exchanges and MTFs for the benefit of our customer base. 
 
Under the new arrangement, in addition to providing support and maintenance, Baymarkets will co-market Clara with SIX x-clear to deliver the Tier 1 clearing solution to a wider range of clients – including exchanges, MTFs, clearing banks, and clearing houses. 
 
As an independent trading system vendor, Baymarkets has unrivalled experience of both voice and exchange-traded markets and linking them with clearing houses. The addition of Clara to the product set brings a totally complementary solution to the already established and integrated platform (Edge), and creates a complete end-to-end solution.
 
In order to maintain stability, continuity and support for this key piece of infrastructure, the current team, who has been instrumental in developing and maintaining Clara to date, will move to Baymarkets. 
 
Peter Fredriksson, CEO of Baymarkets Technology AB, says “We have enjoyed an excellent working relationship with SIX over the last 7 years”, adding “we are delighted to welcome such a talented group to our team extending our already exceptional operational expertise and technical delivery capability.”
 
Thomas Zeeb, CEO of SIX Securities Services, the owners of SIX x-clear said, “We look forward to this arrangement with Baymarkets which, for us, is a reiteration of our strategy to establish partnerships where complementary capabilities enhance the benefit that our clients can derive.”
 

Related News

Retail cash automation market booms as global installations surpass 700,000

Latest research shows retailers across the world are investing in technology that improves cash management and boosts security

Market outside Japan... Read more »

41% of European consumers unable to access financial services during lockdown

Research from Signicat, the Trusted Digital Identity™ company, has revealed that 41% of... Read more »

NewB opts for Wolters Kluwer’s OneSumX for Risk Management

NewB, the Belgian ethical bankhas selected Wolters Kluwer’s ... Read more »

STMicroelectronics and Fingerprint Cards Cooperate to Develop and Launch an Advanced Biometric Payment Card Solution

World-leading biometric company Fingerprint Cards AB (Fingerprints) has teamed with STMicroelectronics (NYSE: STM), a global semiconductor... Read more »

Experian partners with Global Data Consortium to bolster international customer identity verification

Experian and identity verification provider Global Data Consortium (GDC) have today announced a new partnership which will transform customer onboarding journeys for both... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel