Global brokerage company Sigma Broking has partnered with futures industry technology provider FIA Tech, enabling Sigma to utilise FIA Tech’s Atlantis settlement platform to support the company’s trade processing.
The partnership also includes the housing of give-up agreements between parties as well as facilitating the execution of new ones. According to a press release, the integration of FIA Tech’s Atlantis platform will simplify the calculation, invoicing and payment of brokerage fees to executing brokers.
In a statement, Gary Pettit, CEO of Sigma Broking, said: “Our focus is on ensuring it is easy for our clients to do business with Sigma Broking whilst streamlining our processes between counterparties so that we’re as efficient as possible. FIA Tech’s Atlantis settlement provides us with all the functionality we require and we are already onboarding many clients who wish to use the platform.”
Erin Kairys, VP, Head of Brokerage Growth at FIA Tech, added: “We are pleased that Sigma Broking has started using Atlantis to settle brokerage and we look forward to supporting them as they onboard with additional counterparties. Atlantis is the global industry standard brokerage payment platform and processes more than 170 million trades per year. Firms using Atlantis enjoy automated settlement rates up to 99% and often have 2-3x productivity of their brokerage payables and receivables teams vs firms not using Atlantis.”
