FIS Derivatives Utility Signs Wedbush as First Non-Bank FCM
Wedbush is the third client win for the utility, which is rolling out a new clearing platform in 2018.
Wedbush Futures is the first non-bank futures commission merchant (FCM) to join the utility, which garnered a significant amount of interest in 2015 when it was launched under the auspices of what was then SunGard. Wedbush will use the utility to support its exchange-traded derivatives business.
The Derivatives Utility allows firms to outsource non-differentiating activities in post-trade operations and technology processing to FIS, including trade clearing, margin processing, reconciliations
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