23 Sept 2002: Fortis Brokerage Opts for Ubitrade STP Solution

Fortis Commodity Brokerage plans to install the Ubitrade Futures & Options solution for straight-through-processing (STP) of derivatives contracts. Fortis Commodity Brokerage is a subsidiary of Fortis Bank, a Belgian bank.

The brokerage plans to use the system, which is based on Oracle, C++, HTML and XML, for trading in cocoa, sugar and coffee on both the London International Financial Futures & Options Exchange (Liffe) and the New York Board of Trade.

As part of the deal, FCB has also purchased Internet access for end-users, enabling its clients and brokers to access their positions, statements and trades in real-time and to access end-of-day statements.

Ubitrade is a leading supplier of advanced systems solutions for trading, risk management, and back-office systems in capital markets to over 12 clients in 20 countries.

Ubitrade Futures and Options is an STP solution for listed derivatives on all major world futures markets. It features order-routing including preemptive risk management, post-execution risk management, back-office processing and Internet access for end users.