Industry Updates

First Clearing selects NYSE Technologies for hosted transaction hub

Wednesday, January 19, 2011

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Opalesque Industry Update – Fully Hosted and Managed Connectivity and Risk-Management Solution

NYSE Technologies, the global commercial technology unit of NYSE Euronext, today announced that it has been chosen by First Clearing, LLC, an affiliate of Wells Fargo & Company, to install its Hosted Transaction Hub. Consisting primarily of its managed connectivity and Risk Management Gateway (RMG) platforms, NYSE Technologies will integrate this customized infrastructure alongside its core SFTI connectivity service to offer First Clearing enhanced routing capabilities, significant new risk management functionality and reduced overall operating costs. The Hosted Transaction Hub for First Clearing is scheduled to be fully operational in the first quarter of 2011.

“We are very excited to work with First Clearing to install this unique version of our Hosted Transaction Hub that creates a customer specific, high-performance solution that addresses their compliance and risk needs while enhancing their core technology,” said Bruce Boytim, Vice President, Risk Management Gateway, NYSE Technologies. “As a fully managed solution, this core piece of trading infrastructure will help First Clearing utilize NYSE Technologies’ diverse set of tools, resources and capabilities to consolidate various internal processes and dramatically improve performance.”

“After a thorough review of competitors’ offerings, it was clear that NYSE Technologies has the most robust risk management offering of this type available to the industry today. We are pleased to be partnering with the NYSE to implement solutions which enhance the protection of our businesses and those of our clients,” said Albert Caiazzo, Managing Director at First Clearing.

The NYSE Technologies Hosted Transaction Hub offers customers a fully managed, integrated platform that combines many of NYSE Technologies most advanced connectivity options, order execution services and market information applications. Leveraging the Secure Financial Transactions Infrastructure (SFTI), this solution also utilizes NYSE Technologies’ managed connectivity service alongside RMG to offer customers a hosted order transaction platform and market data infrastructure with sub-millisecond access to nearly 50 execution venues in the U.S. While outsourcing their direct market access routing systems to NYSE Technologies, customers can retain control of their order management, connection status and specific risk filters through a customized web-based interface. Easily installed in nearly any location, the Hosted Transaction Hub lowers customer costs by helping ensure broad connectivity, risk compliance and comprehensive routing capabilities with no additional hardware for the firm or its clients.

(press release)

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