Fintech firm FIS (NYSE:FIS) today announced that it has expanded its sell-side solutions to new buy-side clients.
As market-side clients face pressure to find new revenue streams, reduce risk, increase operational efficiency and deliver new value for their customers, FIS empowers these companies through its solutions on the sales side.
One way in which FIS supports the needs of these clients is through the Cleared Derivatives (CD) platform, which has historically been used by clearing members. This platform is seeing new adoption by market firms, such as hedge funds, asset managers and insurance companies, as it allows these firms to have direct access to trading venues and clearing houses, helping to reduce counterparty risk and free up capital.
Similarly, the FIS Cross-Asset trading and risk platform, which has traditionally featured sell-side capabilities, now enables buy-side firms to better achieve asset diversification and scale new strategies to drive revenue. Market-side clients use the platform for its powerful features such as real-time checks for trades, order management, profit and loss, general ledger and more. The platform is modular and allows customers to scale the solution as needed to support their growth.
In the third quarter of 2023, FIS signed new customer contracts for this platform with several purchasing companies.
“We are proud to announce that we have expanded our sell-side solutions to new buy-side clients as well as strengthened our relationship with our existing sell-side clients,” said Nasser Khodri, Head of Capital Markets at FIS.
“As one of the largest financial technology companies, we have the strengths, capabilities and expertise to not only provide our buy-side clients with the selling capabilities they seek, but to ensure they get them through modern and Cloud-native SaaS for maximum efficiency. I am excited to see the opportunities this industry trend creates for FIS and our extensive market-side customer network.”