With SFB being part of the OSI, they know exactly how to position SMCC to address the industry's needs. Let's not forget their connections in very high places. ;)
Thanks, Allie. Very interesting. Remember, according to the recent Spooz PR, the Symbol Management Clearing Corporation mentioned in this article is the new joint venture company created by Spooz and SFB.
This article was written in November 2007 - I wonder if Spooz was involved back then, or if they teamed up more recently.
Also, here's some information about the DTCC which was referenced in this article and directly has an impact on the OCC, the OSI, and therefore SFB Market Systems and Spooz's joint venture - SMCC.
For more than 30 years, DTCC's family of companies has helped automate, centralize, standardize and streamline processes that are critical to the safety and soundness of the capital markets. As a result, we've helped our customers increase their operational efficiency, reduce risk and lower cost. DTCC, through its subsidiaries, provides clearing, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks.
DTCC's depository provides custody and asset servicing for 2.8 million securities issues from the United States and 107 other countries and territories, valued at $36 trillion. In 2006, DTCC settled more than $1.5 quadrillion in securities transactions.
DTCC operates through six subsidiaries - each of which serves a specific segment and risk profile within the securities industry:
National Securities Clearing Corporation (NSCC) The Depository Trust Company (DTC) Fixed Income Clearing Corporation (FICC) DTCC Deriv/SERV LLC DTCC Solutions LLC EuroCCP Ltd.DTCC's joint venture company, Omgeo, has 6,000 customers in 42 countries and plays a critical role in institutional post-trade processing, acting as a central information management and processing hub for brokers, investment managers and custodian banks.
The U.S. Model for Clearing and SettlementDTCC ensures the capacity, certainty and reliability required to clear and settle today's enormous trading volumes.
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Allie great point -- "The reason why I'm posting it is that SFB Market System's own CEO Lee Clifford is interviewed here - which also tells me SFB Market Systems is seriously recognized by the Options Market and that SMCC is very real. Also shows where the DTCC fits into all of this too. "
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