Societe Generale has extended their agreement with FIS, selecting the financial technology firm for the strategic transformation of its derivatives clearing and settlement technology.
Under the agreement, the French investment bank and financial services group will transition their existing derivatives clearing and settlement IT environment to FIS Cleared Derivatives Suite.
The Suite is a high-performing and modernised technology platform which is integrated with the existing client’s infrastructure and covers end to end post-trade derivatives processing requirements.
“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.
Nasser Khodri, head of capital markets at FIS, added “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
FIS and Societe Generale have a well established relationship.Two years ago, they teamed up to enable instant payments for corporate clients in Europe.
The bank leverages the SEPA Instant Credit Transfer (SCT Inst) scheme, a European Payments Council initiative to expedite payments.
