FFastFill is supplying this supplemental order management software for the CBOT, based on FFastFill’s NG architecture. Participants will have access via the Internet to the Web-based front end, enabling them to view and take action on all working and partially filled orders, and to export them to their back offices for further analysis. The new risk management application will also enable authorised participants to cancel orders. Users will include authorised representatives from clearing firms, introducing brokers and trading arcades.
The order management front-end can co-exist on the screen with existing trading front-end systems used to trade on e-cbot. FFastFill will provide an ongoing managed support service.
Said Hamish Purdey, President of FFastFill Inc.: “We are delighted to work with the CBOT on this critical project which can have such a significant, positive impact on the exchange’s electronic trading population through greatly enhanced order and risk management capabilities. We believe we won this business through the functionality, high quality and versatility of our technology, with software specifically designed to be deployed as a service, providing for smooth and fast upgrades as well as seamless maintenance. We view this assignment as another validation of our strategy of bringing modern software and cost efficiencies to the derivatives community through comprehensive technology and managed service solutions.”
Keith Todd, Chairman and Chief Executive Officer of FFastFill plc, said: “This is an important contract for the FFastFill group, as effective order management is at the heart of every trading business - whether an exchange, clearing member or non-clearing firm. FFastFill’s investment in the new generation of software over the past two years is opening up new markets and new customers, and we are very pleased to have been selected by the Board of Trade for this important project.”
About FfastFill
FFastFill Inc. is the U.S. subsidiary of London-based FFastFill plc, the leading provider of application services to the global derivatives community. FFastFill’s services and solutions use the latest developments in technology to automate trade flow processes across a firm’s front, middle and back offices. FFastFill’s solutions encompass electronic order routing, clearing, risk management and back-office reporting as part of an integrated, yet modular system architecture. FFastFill’s application services provide institutions with cost savings in their administrative and IT departments and significantly reduce or eliminate the investment costs associated with maintaining their own technology infrastructure. All of FFastFill’s services are delivered against a contracted Service Level Agreement (SLA), which can be tailored to an institution’s business requirements. This quality of delivered service has been enabled through the deployment of a uniquely engineered and totally managed software and technology infrastructure. More information about FFastFill can be found at www.ffastfill.com.
