SunGard Futures launches processing ASP Services in Germany and Central Europe.
SunGard Futures Systems introduced Octagon IT Services, an application service provider (ASP) version of its Octagon system for exchange-traded derivatives, futures and options trade-management, processing and accounting.
Octagon IT Services provides a secure, outsourced processing environment for futures commission merchants (futures brokers) participating in high-volume trading in Germany and across Central Europe.
"Futures brokers can effectively reduce costs and reliance on internal resources to maintain systems in-house, while improving their operational efficiency, system availability and scalability," states Joachim Holzer, managing director of SunGard Futures Systems' Central European operations, commenting in the press release.
The new ASP service features a Java-based user-interface and includes connections to regulatory bodies for reporting purposes, offering institutions a single-vendor platform. SunGard, the parent company, provides Octagon IT with full-system backup and recovery using SunGard Availability Services, and comprehensive support services via SunGard Futures Systems, both located in Germany.