Cargill Investor Services (CIS), broker for exchange traded futures, options and OTC products, has taken FNX’s Sierra System for its global OTC trading and back office operations.
CIS will use the FX cash, options, commodities and general ledger modules for seamless front, middle and back office functionality. The installation will include Sierra System’s real time limits, margin monitoring and real time interface capabilities.
“FNX’s extensive cross-product coverage and Web-enabled STP strategy were key factors in CIS’ selection of the Sierra System,” says Joel Steindel, CIS’ global OTC operations manager. “As our client services cover a wide range of asset classes, including FX cash, FX options, commodities, bullion, and LME, it was imperative that we select a system that could cover all of our growing OTC activities. Additionally, FNX’s commitment to sharing and empowering our Internet strategy was an extremely important factor in the decision-making process.”
Sierra System’s Internet-based technologies and APIs will provide CIS’ clients with faster order placement and quicker access to account statements, officials say. Brian Duff, head of FX, adds, “The FNX system greatly improves our ability to meet client specific solutions in an increasingly dynamic environment.”