NUMIS to Clear and Settle Trades on Chi-X and Turquoise with GL RIMS
GL TRADE has announced that NUMIS Securities is now live on the Chi-X and Turquoise markets using the GL RIMS middle and back office solution for all the post trade processing. NUMIS has now been using GL RIMS for over two years, to manage their clearing and settlement business on CREST (now Euroclear UK & Ireland). NUMIS will use the solution’s netting facility to try to reduce the cost of processing of their LCH cleared business in CREST. They will also use it access to the new MTFs, Chi-X and Turquoise, in order to provide the best possible execution service to their customer base. Trading on the MTFs meant handling the new clearing services and netting models of EMCF and EuroCCP.