Finastra Partners Fragmos Chain to Digitalise OTC Derivatives Post-Tradeby Fintechnews Switzerland November 24, 2022
Finastra is collaborating with French blockchain platform Fragmos Chain to provide out-of-the-box integration with Finastra Summit, its over-the-counter (OTC) derivatives market solution.
The API-first integration via FusionFabric.cloud enables banks globally to digitalise their OTC derivatives products to reduce the costs and risks associated with manual processes.
With Fragmos Chain, Finastra’s bank customers can match their trades, events and cash flows for settlement in a collaborative way, as well as store their data securely and exchange it in real-time.
Founded in 2019 and based in Paris, Fragmos Chain’s blockchain solution allows lifecycle and regulatory events in the post-trade management of financial instruments to be automatically determined.
“By digitalising the confirmation process of all derivatives and automating all post-trade processes, we are helping banks streamline their operations and reduce their risks, capital and costs,”
said Daniel Ivanier, CEO at Fragmos Chain.
“Integrating Fragmos Chain with Finastra’s Summit, via our open platform for innovation FusionFabric.cloud, will help to reduce the challenges associated with traditional post-trade processes,”
said Benoit Riquet, Chief Product Officer, Treasury & Capital Markets at Finastra.