Kyte Group snaps up Ubitrade derivatives system
The Kyte Group, a London-based financial services group, has bought a futures and options back-office system from Ubitrade, a French trading and risk management software company.
Peter Green, Kyte's chief executive, said the company was seeking a system that could handle its large increase in transaction volumes while at the same time minimise operational risk. Ubix will enable Kyte to achieve T+0 straight-through processing and clearing internally, as well as externally with its brokers.
The Kyte Group is a diversified financial services group that encompasses Kyte Brokering and Kyte Fund Management. Kyte is active in financial futures, commodities, forex and options. Kyte is a clearing member of numerous exchanges globally, including Liffe, and is a non-clearing member of Euronext and Eurex.
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