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Key facts:
- As part of the agreement, Societe Generale selects FIS solution for the strategic transformation of its derivatives clearing back-office.
- FIS Cleared Derivatives Suite will provide Societe Generale with a new high-performing and modernized technology platform that handles trade clearing and settlement services.
FIS ® (NYSE: FIS) announced today that Societe Generale has signed an extended agreement, selecting the financial technology leader for the strategic transformation of its derivatives clearing and settlement technology. As part of the agreement, the investment bank and financial services group will transition their existing derivatives clearing and settlement IT environment to FIS Cleared Derivatives Suite .
"The listed derivatives clearing business is a core part of our Prime Services business franchise at Societe Generale. We are recognized by our customers, and the industry, as a market leader in this space. Our decision to select FIS to provide our next generation post-trade clearing technology, represents a significant investment, with a trusted partner, to support the long term growth of this business," said Christophe Lattuada, Chief Operating Officer of Global Banking & Investor Solutions (GBIS) at Societe Generale.
"As derivatives clearing firms seek ways to limit risks while reducing operational costs, they are embracing the transformational change of their ecosystem and operating model," said Nasser Khodri, Head of Capital Markets at FIS. "We're delighted that a key player in the market such as Societe Generale chose FIS to achieve this journey and strengthen our long-standing relationship."
FIS Cleared Derivatives Suite is a high-performing and modernized technology platform which will be seamlessly integrated with the existing client's infrastructure and covers end to end post-trade derivatives processing requirements.
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world's economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500 ® and the Standard & Poor's 500 ® Index. To learn more, visit www.fisglobal.com . Follow FIS on Facebook , LinkedIn and Twitter ( @FISGlobal ).
View source version on businesswire.com: https://www.businesswire.com/news/home/20220607005094/en/
Kim Snider, +1 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com
