SunGard Futures Systems says it is making its Octagon system for exchange-traded derivatives and futures trade management, processing and accounting available on an ASP basis. Octagon IT Services will aim to provide a secure outsourcing service for futures commission merchants in Germany and other parts of Central Europe.
“With Octagon IT Services, futures brokers can effectively reduce costs and reliance on internal resources to maintain systems in-house, while improving their operational efficiency, system availability and scalability,” says Joachim Holzer, managing director of SunGard Futures Systems’ Central European operations. “Octagon IT Services is a comprehensive solution that provides real-time access to data, external interfaces with exchanges and regulatory authorities, multi-level system security, and full backup and recovery.”
Octagon provides high-volume processing and accounting for exchange-traded derivatives, futures and options, from order to clearing and settlement, plus interfaces to regulatory bodies for reporting purposes. SunGard will provide Octagon IT Services with full system backup and recovery using SunGard Availability Services, and support services through SunGard Futures Systems, both located in Germany.
Octagon IT Services also offers integration with other SunGard solutions for futures trading, including Exchange Gateway for retrieving trade and order information from MISS Architecture and OM-Net based exchanges, WorldSource for worldwide daily revaluation data, and Global Margin Server for initial and intraday variable margin calculations.