ATEO Finance, a post-trade solutions provider for the derivatives industry, announced today that Sucden Financial has picked ATEO’s LISA Clearing Engine as its middle-office platform.
According to the official press release, ATEO’s LISA Clearing Engine offers a unique set of advanced clearing features including off-the-shelf connectivity. The engine offers these features to Execution platforms, major clearers as well as third party clearing and confirmation systems.
Sucden Financial aims to meet the specific requirement related to its middle-office with the help of the LISA Clearing Engine. Additionally, the multi-asset clearing and execution provider mentioned that it has closely worked with ATEO to cover its extensive range of markets.
Commenting on the recent announcement, David Romeo, Managing Director at ATEO, 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."
Clearing Efficiency
Founded in 1973, Sucden Financial has a proven track record in global financial markets. The company offers services in multi-asset execution, clearing, and providing Liquidity across FX, fixed income and commodities. Sucden plans to improve operational efficiency with the introduction of the new platform.
"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," Gavin Parker, Chief Operating Officer at Sucden Financial, said in a statement.
Finance Magnates earlier reported about Sucden’s selection of Cobalt’s post-trade FX infrastructure to use Cobalt’s range of middle and back-office trade solutions. Furthermore, Sucden Financial joined TrueFX as a clearing member in 2020 to support their client's access to liquidity on the network.
