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

ICICI Bank launches banking services on WhatsApp

ICICI Bank today announced the launch of banking services on WhatsApp to enable its retail customers to undertake a slew of banking requirements from their home at a time when... Read more »

Sony Bank Launches New Service “English online banking”

Sony Bank Incorporated today announced the launch of a new English-language online banking service, aiming to provide foreign residents in Japan a seamless, hassle-free way to... Read more »

Phoebus Software Launches Mortgage Self-Service Portal

Phoebus Software Limited (PSL), the leading banking and lending software provider, has launched a new digital self-service portal that allows lender’s customers to self-serve... Read more »

Poland’s National Payment Processor Partners with Cryptomathic to Deliver eIDAS-certified Remote Qualified Electronic Signature Services

Polish citizens can now sign documents digitally using mSzafir, a remote qualified e-signature service with the highest levels of security under European law, thanks to a new... Read more »

The volume of funded loans on reaches €150 mln

A month ago, the European P2P platform announced that the number of its investors reached 10,000. In March, it... Read more »

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