January 09, 2018
JACKSONVILLE, Fla., 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 (ETD) business.
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 technology.
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 management.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, 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.
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 innovation.
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.
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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.
For More Information
Fidelity National Information Services Ellyn Raftery, +1.904.438.6083 Chief Marketing Officer FIS Global Marketing and Corporate Communications firstname.lastname@example.org
Natalie A. Svider (213) 688-8057 Senior Vice President and Marketing Director Wedbush Securities email@example.com
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