Vontobel to use Ubitrade derivatives system

Swiss private bank Vontobel is to install trading technology developed by France's Ubitrade to manage its listed derivatives.

Zurich-based Vontobel acts as an asset manager in the derivatives and structured products business in Switzerland, and has bought Ubitrade Futures & Options (UF&O), a straight-through-processing solution for global listed derivatives. The technology processes transactions via the Web.

Ubitrade was chosen in favour of other providers of integrated systems for financial services, including SunGard and Rolfe & Nolan, the French firm claimed.

Felix Lenhard, project manager at Vontobel, said: “We were impressed with Ubitrade’s technology, its stability and the open infrastructure of its systems. UF&O, will provide us with a reliable infrastructure to manage and develop our activities on Eurex.”

Didier Bouillard, chief executive officer at Ubitrade, commented: “We are hopeful that this deal will incentivise other direct or general clearing members of Eurex to review their current arrangements and demand a product that fully meets their needs. The Eurex market offers great opportunities to financial institutions in the region to develop their derivatives trading activities."

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