Financial technology provider FIS has expanded its institutional buy-side offering in a bid to support firms as pressures to remain competitive increase.
The expanded solutions from FIS seek to assist buy-side clients facing increased pressure to find new revenue streams, reduce risk, drive operational efficiency and deliver new value for their customers.
As part of the expansion, FIS has extended its FIS’ Cleared Derivatives (CD) platform – historically used by clearing members – to buy-side firms including hedge funds, asset managers and insurance companies, allowing them to access trading venues and clearing houses directly, which can help reduce counterparty risk and free up capital.
Elsewhere, the FIS Cross-Asset Trading and Risk Platform, typically featuring sell-side capabilities, has been expanded to enable buy-side firms to achieve improved asset diversification and scale up new strategies for revenue growth.
Buy-side clients will also be able to use the platform for real-time controls for trading, order management, profit and loss, as well as general ledger.
According to FIS, in the third quarter of 2023, the company signed new client contracts for this platform with several buy-side firms.
“We are proud to announce that we have expanded our sell-side solutions to new buy-side clients, as well as strengthened our relationship with our existing sell-side clients,” said Nasser Khodri, capital markets president at FIS.
“As one of the largest financial technology companies, we have the strengths, capabilities, and expertise required to not just provide our buy-side clients with the sell-side capabilities they’re seeking, but to ensure they’re acquiring them through modern and cloud-native SaaS solutions for maximum efficacy. I’m excited to see the opportunities that this industry trend creates for FIS and our extensive network of buy-side clients.”