will offer its data control and reconciliation services to CME Group members
starting January 2017, the two firms announced.
The launch follows a
six-month trial period with a limited number of futures commission merchants (FCMs).
Duco’s service is designed
to enable CME member firms to simplify processes around fee structures without investing in
infrastructure or IT resources.
CME chief commercial officer Bryan Durkin comments:
“We’re pleased to offer our member
firms an innovative solution to help streamline their current fee processes.
Duco’s service will reduce manual work, drive
efficiency and ensure accuracy between parties.”
CEO of Duco, adds: “We know that data control in its broadest sense is now
one of the most critical areas
for all FCMs, their clients, global exchanges like CME Group, and regulators.
Working with CME Group during the last six months
has shown how our agile, self-service tool
can be quickly adopted by both the CME Group data environment and its members’
back office systems.”