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FIA Tech, a leading technology provider for the futures industry, has announced that its brokerage settlement platform, Atlantis, now supports block-traded futures and options. This expansion aims to bring much-needed automation to a segment of the market that has historically relied on manual and often delayed processes.
What is FIA Tech’s Atlantis platform?
Atlantis is FIA Tech’s standardized platform designed to streamline the invoicing and collection of brokerage fees in exchange-traded derivatives (ETD) and US Listed Options. It connects executing brokers, clearing firms, and buy-side clients, facilitating efficient settlement and reconciliation of fees. The platform aims to improve time to revenue and reduce costs by providing a single global platform for managing brokerage.
What is block trading?
Block trading refers to large-volume purchases or sales of financial assets, typically undertaken by institutional investors. These trades are usually negotiated privately, outside of public markets, to minimize their impact on the security’s price. Block trades often involve tens of thousands of shares or millions of dollars worth of bonds and are managed by investment banks or specialized intermediaries.
Impact of the extension:
By adding support for block trades, Atlantis is now facilitating the invoicing and collection of approximately $1 billion in annual revenue across its network of 53 executing brokers, 33 clearing firms, and buy-side clients. This move is expected to:
* Automate manual processes: Block trades often involve complex, bespoke arrangements, leading to manual invoicing and potential delays. The integration with Atlantis will automate these processes, increasing efficiency.
* Improve operational synergies: FIA Tech has worked with the industry to establish a common invoice format and process, creating synergies for clearing firms and their clients.
* Enhance transparency and reduce costs: Consolidating all revenue on a single global platform is intended to offer greater transparency and reduce operational costs for market participants.

Video courtesy of IPO-VID In Patrick’s Opinion

https://youtu.be/NdjTR36ME74?si=CwH4eQaX8wBk98xX

Video courtesy of IPO-VID In Patrick’s Opinion