Hamish Purdey, CEO, FFastFill
"NYPC PRIME™ builds on FFastFill's expertise in risk management across all areas of the trade flow."
FFastFill, the provider of Software as a Service ("SaaS") to the derivatives community, has announced that it is partnering with New York Portfolio Clearing, LLC ("NYPC"), the clearing platform for fixed income derivatives, to provide the technology, hosting and support for the NYPC PRIME™ Portfolio Risk Interactive Margin Estimator.
FFastFill will deliver the NYPC Value-at-Risk ("VaR") calculator that estimates the "one-pot" margin savings that clearing members can achieve for proprietary interest rate futures cleared at NYPC. FFastFill will also deliver certain cash positions cleared at the Fixed Income Clearing Corporation ("FICC") subsidiary of The Depository Trust & Clearing Corporation ("DTCC"), as a SaaS solution from its network of managed data centres.
Hamish Purdey, CEO of FFastFill said: "We are pleased to have been selected by NYPC to deliver the PRIME™ service as a SaaS solution. NYPC PRIME™ builds on FFastFill's expertise in risk management across all areas of the trade flow and allows us to deliver this innovative technology to a growing market."
Ira Krulik, Chief Operating Officer, NYPC said: "Working with FFastFill has allowed us to deliver a highly functional tool in a short period of time. We were impressed with the turnaround time and quality of the delivery, and we look forward to working with FFastFill to provide a highly reliable VaR platform for our customers."