Wedbush Futures, one of the largest capitalized non-bank futures
commission merchants in the United States, will move its operations
processing and technology management to the FIS Derivatives Utility.
The firm plans to migrate to the FIS utility in the first quarter of
Wedbush Futures joins Barclays and Credit Suisse as clients of the FIS
Derivatives Utility managed service.
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Jan. 9, 2018--
Wedbush Futures, one of the largest capitalized non-bank futures
commission merchants (FCMs) in the United States, has selected the FIS™
(NYSE: FIS) Derivatives Utility to support clearing operations
processing and manage the technology for its exchange traded derivatives
Wedbush Futures joins Barclays and Credit
Suisse as clients of the FIS Derivatives Utility, a managed service
that provides derivatives clearing operations and technology services
for capital markets firms, based on industry leading FIS post-trade
By migrating its post-trade futures and options operations and
technology to the FIS Derivatives Utility, Wedbush Futures expects to
benefit from greater middle and back-office processing efficiency and
simplified regulatory compliance and application upgrade projects.
Wedbush Futures will migrate in the first quarter of 2018.
Rich Jablonski, EVP of Wedbush Securities and CEO of Lime Brokerage
says, “We are elated to extend our global relationship with FIS.
Leveraging its Derivatives Utility will expand Wedbush Futures’
capabilities, enabling Wedbush to better serve our clients.”
“Moving to the FIS Derivatives Utility is a natural step in the
evolution of our business, allowing us to better focus on delivering
exceptional client service to our growing client base and expanding our
product and market coverage,” stated Bob Fitzsimmons, Managing Director,
and Head of Futures, Wedbush Futures. “As a valued and trusted
technology provider for our clearing business, migrating our operations
processing and technology management to the FIS Derivatives Utility is a
natural next step in our post-trade processing evolution.”
“We are thrilled to welcome Wedbush Futures to our growing roster of FIS
Derivatives Utility clients,” said Marianne Brown, chief operating
officer, Institutional and Wholesale, FIS. “Today’s capital markets
firms need ways to lower their costs and differentiate themselves in an
increasingly competitive industry. By leveraging the FIS Derivatives
Utility, Wedbush Futures and our other clients can benefit from powerful
economies of scale delivered through the investments we have made in
leading-edge automation and real-time processing technology.”
The FIS Derivatives Utility provides customers with derivatives clearing
operations and technology services for trade clearing, trade lifecycle
management, margin processing, brokerage, reconciliation and data
FIS is a global leader in financial services technology, with a focus on
retail and institutional banking, capital markets, payments, asset and
wealth management, risk and compliance, and outsourcing solutions.
Through the depth and breadth of our solutions portfolio, global
capabilities and domain expertise, FIS serves more than 20,000 clients
in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs
more than 53,000 people worldwide and holds leadership positions in
payment processing, financial software and banking solutions. Providing
software, services and outsourcing of the technology that empowers the
financial world, FIS is a Fortune 500 company and is a member of
Standard & Poor’s 500® Index. For more information about
FIS, visit www.fisglobal.com.
Follow FIS on Facebook (facebook.com/FIStoday)
and Twitter (@FISGlobal).
About Wedbush Futures
Wedbush Futures, a division of Wedbush Securities Inc., is one of the
largest non-bank Futures Commission Merchants (“FCM”) in the United
States. The division specializes in clearing and financing activities
for professional traders, institutions, and commercial clients. Located
in Chicago, Wedbush Futures is at the forefront of our business, with
deep industry specialization and a distinguished track record in
financial derivatives. Our client relationships are built on trust and
supported by our firm, which is rooted in experience, stability, and
About Wedbush Securities
Since our founding in 1955, Wedbush has been a leader in the financial
industry providing our clients with a wide range of services; including
institutional sales, correspondent clearing services, equity research,
corporate and municipal finance, equity market making, fixed income
trading, prime brokerage, and wealth management. Headquartered in Los
Angeles, with 100 registered offices, the firm focuses on dedicated
service, client financial safety, continuity, and advanced technology.
Follow us on Twitter @Wedbush.
This press release may contain statements, estimates or projections that
constitute “forward-looking statements” pursuant to the safe harbor
provisions of the U.S. federal securities laws. Generally, the words
“believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,”
“will” and similar expressions identify forward-looking statements,
which generally are not historical in nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
FIS’ historical experience and our present expectations or projections.
These risks include, but are not limited to, changes in general
economic, business and political conditions, developmental and
conversion delays or disruptions inherent with new software products,
technology and outsourcing solutions, and risks of reduction in revenue
from the elimination of existing and potential customers due to
consolidation in or new laws or regulations affecting the banking,
retail and financial services industries, changes in the growth rates of
the markets for our solutions, and other risks detailed in our filings
with the Securities and Exchange Commission (SEC), including the “Risk
Factors” section of our Annual Report on Form 10-K for the year ended
December 31, 2016, and subsequent SEC filings. You should not place
undue reliance on forward-looking statements, which speak only as of the
date they are made. FIS undertakes no obligation to publicly update or
revise any forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180109005297/en/
Source: Fidelity National Information Services
Kim Snider, +1.904.438.6278
Senior Vice President
Marketing and Communications
A. Svider, 213.688.8057
Senior Vice President and Marketing Director