Cantor Fitzgerald to launch new clearing service
24 August 2012 New York
Image: Shutterstock
Global financial services firm Cantor Fitzgerald plans to expand its clearing services in Q4 2012 with the launch of Cantor Clearing. The new clearing operation is set to provide clearing, settlement and technology solutions for financial service firms, targeting clients including institutional and online broker dealers, registered investment advisors and other asset managers.
Cantor clearing will use SunGard’s integrated suite of clearing and settlement solutions to help streamline front-to-back securities processing for clients. SunGard’s integrated features “will help drive efficiencies in transaction clearing and settlement, providing a cost-effective and competitive framework compared to alternative clearing solutions,” said the firm in a recent statement.
Noel Kimmel, CEO of Cantor Clearing and head of Cantor Prime Services, said: "The formation of Cantor Clearing will complement our comprehensive suite of products and services, and is a natural extension of our growing prime services platform."
"By leveraging existing in-house capabilities, our robust global infrastructure, cross-asset expertise and SunGard's technology, we will provide a comprehensive solution tailored to the needs of middle market clients. Cantor Clearing reflects our commitment to supporting the changing market landscape and evolving needs of our clients."
John Grimaldi, executive vice president of SunGard's North American securities operations and securities finance business, said: "SunGard's suite of clearing solutions is helping correspondent clearing businesses like Cantor Clearing increase efficiency and improve client service and retention. SunGard's real-time functionality allows customers to see positions and balances as they trade, enabling real-time transparency throughout the day. SunGard also supports multiple margin methodologies, helping Cantor Clearing to more effectively calculate and report relevant data to its correspondents and compete more effectively in a challenging industry."
Cantor clearing will use SunGard’s integrated suite of clearing and settlement solutions to help streamline front-to-back securities processing for clients. SunGard’s integrated features “will help drive efficiencies in transaction clearing and settlement, providing a cost-effective and competitive framework compared to alternative clearing solutions,” said the firm in a recent statement.
Noel Kimmel, CEO of Cantor Clearing and head of Cantor Prime Services, said: "The formation of Cantor Clearing will complement our comprehensive suite of products and services, and is a natural extension of our growing prime services platform."
"By leveraging existing in-house capabilities, our robust global infrastructure, cross-asset expertise and SunGard's technology, we will provide a comprehensive solution tailored to the needs of middle market clients. Cantor Clearing reflects our commitment to supporting the changing market landscape and evolving needs of our clients."
John Grimaldi, executive vice president of SunGard's North American securities operations and securities finance business, said: "SunGard's suite of clearing solutions is helping correspondent clearing businesses like Cantor Clearing increase efficiency and improve client service and retention. SunGard's real-time functionality allows customers to see positions and balances as they trade, enabling real-time transparency throughout the day. SunGard also supports multiple margin methodologies, helping Cantor Clearing to more effectively calculate and report relevant data to its correspondents and compete more effectively in a challenging industry."
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