LCH chooses genesis to automate FX 08 April 2019London Reporter: Jenna Lomax
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Genesis has collaborated with LCH to design, build and implement three new solutions to automate workflows, specifically the foreign exchange ‘option expiry’ process.
The collaboration will enable Genesis to build a suite of solutions, member and client web portals for SwapClear, and a credit default swap option electronic exercise platform for CDSClear.
The solutions have been built and deployed into LCH’s production environments.
Christophe Noblet, COO for CDSClear at LCH, said: “LCH is experiencing continued growth across a multiple asset-classes, serving an increasing number of market participants who are looking to clear their activity.”
He added: “We’re pleased that genesis has supported us in developing a tool to automate exercise and options expiry, bringing enhanced operational efficiency to the benefit of our members and clients.”
James Harrison, COO of Genesis, commented: “We are very excited and privileged to work with such a prestigious client as LCH.”
He added: “This was a truly collaborative and blended effort between the LCH and Genesis’ teams and we are very proud that we were able to support LCH and deliver exceptional products both ahead of time and within budget. We look forward to innovating with LCH to develop future products that will ultimately help scale the business.”
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