RNS Number : 3433H
FFastFill PLC
04 November 2008
4 November 2008
FFastFill plc
("FFastFill" or the "Company")
Contract Win
MF upgrades retail foreign exchange service with FFastFill
FFastFill plc, a leading provider of application services to the electronic financial
community announces it is upgrading MF Global UK's
foreign exchange trading platform from the existing Crossfire system to FFastFill's new
FFastFill FX platform. MF Global UK will launch the
upgrade with 21 interbank-derived currency pairs using the fully risk managed application for
retail FX trading.
This new FX service now enables MF to benefit from a highly cost effective hosted Straight
Through Processing ("STP") solution.
Keith Todd, Executive Chairman and CEO of FFastFill said:
"We are extremely pleased with the transition of MF Global UK from Crossfire to FFastFill
FX, which allows them greatly increased market
access, functionality and the benefit of the fully hosted solution. Adding FX to our product
range further strengthens our multi-asset and
hosted Software as a Service (SaaS) strategies"
FFastFill's coverage of FX extends across the trade cycle from front end to back office.Its risk management functionality includes
fully flexible pre and post trade risk management. These allow brokers to pre-set parameters
which define client access to markets
("pre-trade") and monitor and control subsequent investment risk arising from price movements
("post trade").
Its multi-asset back office system has been processing FX for a number of years and
recently added a number of new features. Its front
end, called TradingPro, now covers spot, forward, margin and deferred FX deals, with the
latter providing a CFD 'look alike' that is
increasingly popular with retail, institutional clients and proprietary trading desks. The
system has also developed new client statements
which are delivered electronically.
For further information please contact:
FFastFill plc
Keith Todd, Chairman and Chief Executive Officer +44 (0)20 7665 8930
Patrick Thornton-Smith, Director of Marketing +44 (0)20 7065 7542
Financial Dynamics
James Melville-Ross / Matt Dixon / Emma Appleton +44 (0)20 7831 3113
KBC Peel Hunt (Nominated Advisor)
Oliver Scott +44 (0)20
7418 8900
Rostron Parry
John Parry +44 (0)20 7490
8062
About FFastFill
FFastFill is 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 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.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRADXLFBVFBLFBX
|