BOCA RATON, Florida,
March 15, 2016 /PRNewswire/ -- Duco
Technologies, a global fintech provider of award-winning data
control services, and CME Group, the world's leading and most
diverse derivatives marketplace, today announced a pioneering
agreement to dramatically transform its member firms' fee control
processes. The agreement, announced at the 41st Annual
International Futures Industry Conference in Boca Raton, Florida, represents the first
exchange offering of its kind.
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Beginning later this year, CME Group will offer Duco's
innovative reconciliation service to its member firms, enabling
them to vastly simplify processes around fee structures --
without needing to invest in infrastructure or IT resources. Duco
Cube will ensure that the firms' back-office systems are aligned
with CME Group's exchange fee pricing components, eliminating
manual work, driving efficiency and ensuring accuracy between
parties.
Duco Chief Executive Officer and Co-Founder Christian Nentwich, Ph.D., said: "We're very
excited to collaborate with CME Group on this critical offering
that will significantly improve efficiency for the nearly 350
clearing and non-clearing firms it serves. Intelligent, low-touch
solutions that can deliver immediate results without lengthy
implementation projects are vital to driving the transformational
change the industry is undergoing. CME Group, which has been at the
forefront of innovation, is embracing this approach with Duco,
delivering a powerful tool into the hands of its customers."
CME Group Chief Commercial Officer Bryan
Durkin said: "At CME Group, we are committed to finding the
best and most innovative solutions to our clients' needs.
Teaming up with Duco to utilize its intuitive, easy to use
technology helps us simplify and streamline the current fee
processes for our member firms."
Patrick Thornton-Smith, Chief
Marketing Officer at Duco, added: "We already have a number of FCM
customers using Duco Cube for a wide range of reconciliation and
workflow tasks. This partnership will go a long way to help CME
Group member firms further improve a crucial element of the trade
cycle, paving the way for other data control opportunities. This
agreement illustrates the importance of a close working
collaboration between fintech and global infrastructure
providers."
About Duco
Duco is a technology company focused on simplifying complexity
by employing advances in computer science research. Its
award-winning hosted reconciliation service, Duco Cube, enables
firms to control complex data using light-touch, self-service
technology. For the past two years, Duco has won the FOW
International Award for "Best New Product -- Reconciliation"
and was one of only seven firms chosen to participate in the
prestigious 2015 FinTech Innovation Lab in London. During 2015, FIA and Finance
Magnates presented Innovation Awards to Duco. Financial
News named Duco CEO Christian
Nentwich to its "40 Under 40 Rising Stars of Trading and
Technology" as well as its "40 leaders in fintech" list of
individuals who "display influence or innovation in the emerging
financial technology ecosystem." Headquartered in London, with offices in New York and Luxembourg, Duco serves clients throughout
Europe, the United States, Africa, Asia
and Australia.
For more information, please visit du.co
About CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform, its trading
facilities in New York and
Chicago, and through its
London-based CME Europe
derivatives exchange. CME Group also operates one of the world's
leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions. These
products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. All other trademarks are the property of their
respective owners. Further information about CME Group (NASDAQ:
CME) and its products can be found at www.cmegroup.com.
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