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FIA Tech has announced that it will extend its Atlantis brokerage settlement platform to support block traded futures and options. The expansion enables clearing firms, brokers, and asset managers to automate invoicing and settlement processes for high-value, off-exchange transactions.
Atlantis processes invoicing and collection for exchange-traded derivatives (ETD) and U.S. listed options. The addition of block trade settlement integrates a segment that previously relied on manual processing, reducing inefficiencies and settlement delays across the industry.
“Operational efficiencies for clearing firms and their clients”
Nick Solinger, CEO of FIA Tech, commented, “This expansion brings much-needed automation to block trading, an area that has remained highly fragmented. Standardizing invoice processing and improving settlement speed creates operational efficiencies for clearing firms and their clients.”
The updated Atlantis platform facilitates the reconciliation of fees and streamlines the invoicing process. FIA Tech has collaborated with market participants to establish a uniform invoice format, simplifying workflows for executing brokers and clearing firms. The company has reported that Atlantis now processes over $1 billion in brokerage revenue annually.
FIA Tech continues to develop infrastructure for the global derivatives market. The firm has expanded the platform to support direct buy-side participation, increasing settlement volumes and improving automation rates across the industry.
FIA Tech Went Live With Trade Data Network
FIA Tech’s Trade Data Network (TDN) is now live, offering real-time fee and commission matching, reconciliation, and resolution. The development provides the buyside with complete transparency into significant operational challenges within the exchange-traded derivatives industry.
This marks the second phase of FIA Tech’s initiative to address fee and commission-related operational issues for the buyside. The initial phase involved the launch of FIA Tech’s Fee and Commission Repository, which centralized storage of authoritative information on exchange and clearing fees, commissions, and regulatory fees.
Fee and commission discrepancies represent the largest source of matching breaks in the exchange-traded derivatives market. By incorporating these elements into TDN’s matching capabilities, clients can achieve real-time matching, contingent upon their brokers’ capabilities. Currently, managing these discrepancies occupies a substantial portion of exchange-traded derivatives operations teams’ time.
The exchange-traded derivatives market has long struggled with a lack of transparency and high volumes of varied and inconsistent data from multiple sources, formats, timings, and standards. This situation hampers accurate data exchange and necessitates manual processes and duplicative reconciliations, resulting in slow and costly communication between participants. TDN was created to integrate disparate post-trade exchange-traded derivatives data in real time from multiple sources, including executing brokers, central counterparties, clearing brokers, and clients, and to offer matching services to create a single trade lineage in a common, secure, standards-based ledger.
