Investment bank and financial services group Societe Generale has signed an extended agreement with FIS, selecting the technology firm to power its technology transformation.
As part of the agreement, Societe Generale will transition its existing derivatives clearing and settlement IT environment to FIS Cleared Derivatives Suite.
The Suite is a “high-performing and modernised” technology platform which will integrate with the existing client’s infrastructure and covers end-to-end post-trade derivatives processing requirements.
Commenting on the agreement, chief operating officer of global banking and investor solutions at Societe Generale Christophe Lattuada says: “The listed derivatives clearing business is a core part of our prime services business franchise at Societe Generale.
“Our decision to select FIS to provide our next generation post-trade clearing technology represents a significant investment to support the long term growth of this business.”
Nasser Khodri, head of capital markets at FIS, adds: “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.
“We are delighted that a key player in the market such as Societe Generale chose FIS to achieve this journey and strengthen our long-standing relationship.”
.jpg)