Bank of America (BofA) Merrill Lynch has selected FTEN's RiskXposure (RX) platform to enhance its European Cash Equities clearing business.
According to the US bank, RX will offer an inclusive post trade risk management infrastructure, which will serve as a complement to the financial institutions existing systems combining client positions and executing trade data from central counterparty clearing houses (CCP) and exchanges.
RX aggregates the data to provide real time market and credit risk exposure on a per-market, per-CCP and per-client basis, claims BofA.
Commenting on the installation of the new platform, NASDAQ OMX global head of access services Ted Myerson said, "RX brings general clearing members risk management capabilities closer to the point of trade, empowering them with deeper insight and tighter control over their end client’s activity to safely and effectively manage their businesses."
"FTEN is in a unique position to help general clearing members like BofA Merrill Lynch proactively utilize our risk management expertise and proven technology for the clearing community."
As a NASDAQ OMX company, FTEN caters real-time, cross-market risk management solutions that provide market participants with transparency and control over their global trading activity.