SunGard unveils clearing utility as FCM exit fears grow

Barclays is first client for service that promises 20% savings for FCMs

Barclays
Barclays: first client for clearing utility

Amid growing concerns about the sustainability of the derivatives clearing business, Barclays is set to become the first customer of a new outsourcing service from SunGard, which the technology firm claims could cut its users' back-office and IT costs by around a fifth.

"We believe the utility can save firms upwards of 20% of the total cost of running their derivatives clearing operation – maybe as much as 25%," says Brian Traquair, executive vice-president at SunGard Financial Systems. "Futures

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