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Fiserv releases TradeFlow for Linux

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Fiserv’s multi-asset post-trade processing solution, TradeFlow, is now available for financial institutions operating on Red Hat Enterprise Linux.

TradeFlow for Linux is designed to meet the demand from wealth managers for secure and scalable financial solutions designed for an open source technology stack.
 
TradeFlow for Linux allows wealth managers to minimise trading risks, reduce operating costs and enhance efficiency across a number of post-trade activities, including trade capture, data enrichment and management, confirmation and affirmation, as well as settlement and clearing. The solution integrates support for central counterparty clearing of OTC derivatives through MarkitSERV, and facilitates the automated import of Standing Settlement Instructions from Omgeo ALERT.
 
“TradeFlow for Linux represents a major step forward for wealth managers that desire post-trade processing capabilities on an open source enterprise platform. Our solution helps firms reduce their post-trade IT expenses for hardware, licensing, maintenance and support,” says Mike Foster, general manager of institutional management solutions, investment services, Fiserv. “We are now seeing a systemic migration by wealth managers to enterprise Linux systems, and TradeFlow for Linux offers them a highly secure, performance-driven infrastructure for post-trade processing.”
 
Enterprise migration to Linux has accelerated over the past few years, according to the 2013 Enterprise End User Report published by The Linux Foundation and Yeoman Technology Group. The third-annual report is based on a survey of more than 350 IT professionals from major wealth managers like Morgan Stanley, Goldman Sachs, Bank of America, Deutsche Bank, Bank of New York and MetLife.
 
The report finds that more than 80 per cent of respondents plan to increase their use of Linux servers over the next five years, while more than 75 per cent will deploy Linux for new services and applications and 73 per cent plan to increase Linux use for mission-critical workloads. 

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