Duco data control tools to be made available to CME member firms

CME Group member firms will have access to Duco’s tools as of January 2017.

CME Group is to make Duco Technologies’ data control and reconciliation services available to CME member firms in January 2017. 

Duco’s services will allow CME members to “simplify processes around fee structures without investing in IT resources or infrastructure,” CME Group said. 

‘Duco Cube’ will also align CME Group member firms’ back-office systems with CME’s exchange fee pricing tools.

Chief commercial officer at CME Group, Bryan Durkin, explained Duco’s tools will “reduce manual work, drive efficiency and ensure accuracy between parties.”

Chief executive officer at Duco, Christian Nentwich, added that data control has become one of the most critical areas for all futures commission merchants (FCM), regulators, clients and global exchanges.

“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,” he said.

The launch follows a six-month trial period with a number of FCMs, which CME and Duco said was successful.