SEB Equities has implemented 4sight’s Oneworld Settlement system for its derivatives business.
This will enable the Swedish bank group to process domestic and non-domestic equity and derivative trades on the Oslo, Eurex and Nasdaq OMX exchanges.
SEB will replace its current multiple legacy settlement systems across different business lines for a single system.
“This project adds to the growing use of 4sight's software products in Nordic region, with a number of Swedish banks now using 4sight's settlement, collateral management and securities finance solutions,” said Alastair Chisholm, managing director, 4sight.
“The 4sight system will enable us to increase trading volumes as our business expands and achieve significant operational efficiencies from using a single system solution to manage our clearing and settlement process across multiple business lines,” added Sven Andersson, head of Electronic Execution, SEB Equities.