FIA Tech
| FIA Tech | |
| Headquarters | Offices in Washington DC, New York, London, Riga and Mumbai |
|---|---|
| Key People | Nick Solinger, CEO |
| Products | Technology for the exchange traded derivatives industry |
| Website | www.fia-tech.com |
FIA Tech provides technology to the exchange traded derivatives industry. It has been owned since 2020 by a consortium of ten leading clearing firms and the Futures Industry Association. FIA Tech intends to invest to further the development of existing products that have successfully served the industry and launch innovative solutions to improve market infrastructure across the listed and cleared derivatives industry.[1]
FIA Tech works in close partnership with the exchange traded derivatives industry, including exchanges, clearinghouses, clearing firms and other intermediaries, independent software vendors, buyside firms and end users.
History[edit]
On June 16, 2021, FIA announced an investment of $44 million by ten leading clearing firms in FIA Tech. The investors are: ABN AMRO Clearing, Bank of America, Barclays, Citi, Credit Suisse, Goldman Sachs, J.P. Morgan, Morgan Stanley, UBS, and Wells Fargo. FIA retained an ownership stake in FIA Tech continues to serve on its board. Former FIA chair Richard Berliand joined the board as independent director.[2]
On June 21, 2022, FIA Tech announced that Trading Technologies International had joined the FIA Tech databank network.[3] TT was the second ISV to join the network.
Products and Services[edit]
FIA Tech services include digitally managing give-up agreements, meeting regulatory compliance requirements arising from CFTC, MIFID II and exchange regulatory compliance, reconciling and settling brokerage fees and providing reference data products that are required across the pre- and post-trade space in futures and equity options.
Databank Network is FIA Tech’s initiative to bring together independent software vendors (ISVs) , exchanges, clearing houses and other data providers into a global network simplifying the use of reference data, analytics and software from participating firms. It unifies reference data from over 80 exchanges and central counterparties, leading index providers including FTSE, MSCI, S&P, STOXX, independent software vendors and data vendors EDI and Factset.
On July 6, 2022, FIA Tech announced the launch of its Cash and Collateral reference data service. The data is sourced from FIA Tech's central counterparty (CCP) partners and will be available on FIA Tech’s Databank Network. The data set offers a standardized, aggregated view of collateral instruments accepted by CCPs.[4] At launch, the data set will be used by several global clearing firms that manage more than $120 billion of collateral held by customers for trading futures in the US.[5]
Key People[edit]
- Nick Solinger, Chief Executive Officer
- Alex Balleh, Chief Financial Officer
- Andrew Castello, Head of Reference Data
- Andrew La Manna, VP, Head of Business Development
- Yossi Leon, Chief Technology Officer
References[edit]
- ↑ Gily Gazit joins FIA Tech as Head of Product. FIA Tech.
- ↑ Ten global clearing firms make strategic investment in FIA Tech. FIA.
- ↑ Trading Technologies Joins Databank Network. FIA Tech.
- ↑ FIA Tech launches Cash and Collateral reference data service. Securities Financial Times.
- ↑ FIA Tech Launches Cash and Collateral Data Service. FIA Tech.