Japan's Mizuho Bank is to extend its use of FNX's Sierra System to include interest rate futures and options processing.
Mizuho and its predecessor banks have been using the system for FX options trading and risk management since 1997. FNX says Sierra's interest rate and FX option modules are built on the same architecture, allowing the bank to achieve greater economies of scale.
Jim Dennelly, executive director, product management, FNX, adds: "Features such as real-time position and risk management blotters, sensitivity analysis, stress testing and other simulation tools will help Mizuho Bank provide superior trading services."
The system contains management and control features for processing exchange-traded products, with support for 95 global exchanges. Extensive risk control features are built into the package, as well as fully automated STP with exception management.