Nick Solinger, chief executive, FIA Tech.
FIA Tech has added support for block traded futures and options to its settlement platform, Atlantis.
The expanded service is available now to the buy-side, brokers and clearing firms.
The development sees Atlantis facilitating the invoicing and collection of an estimated $1 billion of revenue annually in exchange traded derivatives, and US listed options brokerage across 53 executing brokers, 33 clearing firms and buy-side clients.
The support for block trades seeks to deliver “much needed” automation to the large and fragmented segment of futures and options trading.
Existing invoicing and collection processes tend to be highly manual and linked to delays, due to the custom nature of block trading and the complexity of their associated trades.
Alongside the rollout of the platform, FIA Tech added that it has worked with participants on a common invoice format and process to create operational synergies for clearing firms and their clients.
Read more: Nasdaq and FIA Tech partner to improve resiliency of post-trade infrastructure
“This is a further step in FIA Tech’s strategy to deliver more value for our clients who have long used our brokerage platform,” said Nick Solinger, chief executive at FIA Tech.
“Having all revenue on a single global platform creates efficiencies and synergies for executing firms and their clients, improving their time to revenue and reducing costs. We are grateful to the initial clients and brokers for their support in bring this initiative live.”