CME Group and Duco Technologies, a global fintech provider, announced in March an agreement designed to help clearing and trading firms manage fee control processes.
As part of the agreement, later this year CME will offer Duco's reconciliation service to its nearly 350 member firms. The system will allow members to simplify processes around fee structures, without having to invest in infrastructure or IT resources.
“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,” says Patrick Thornton-Smith, chief marketing officer at Duco.
Duco Cube is designed to keep firms’ back-office systems aligned with CME Group’s pricing components, eliminating manual work and enhancing accuracy between parties.