FIA Tech, a leading technology provider to the exchange-traded derivative industry, announced today that Sernova Financial, a leading provider of outsourced post trade clearing processes for financial services, has joined the FIA Tech Databank Network and will be integrating FIA Tech’s exchange fees, cross reference symbology and core contract specifications data including position limits into its client offering.

Sernova Financial will be the first outsourcing provider to join the Databank Network. The Databank Network is FIA Tech’s interoperable global network to simplify the use of reference data, analytics and software solutions. It brings together independent software vendors (ISVs), exchanges, clearing houses and other technology providers and unifies reference data from over 80 exchanges and central counterparties (CCPs), leading index providers and data vendors.

FIA Tech and Sernova Financial will work together to expand this partnership to include additional FIA Tech solutions such as the Trade Data Network.
Andrew Castello, Vice President, Head of Client Operations at FIA Tech said: “FIA Tech constantly strives to offer value to our clients and building out the Databank Network forms part of that strategy. Data is the foundation of many trading strategies and having access to key data is vital for our clients.”
Richard Thompson, Chief Operating Officer of Sernova Financial said: “Our expansion into the exchange traded space is progressing rapidly and it is vital that we can provide our buyside and sellside community access to key ETD data metrics. Joining the Databank Network is a vital part of that.”

The Databank Network and product portfolio has expanded significantly over the past few years. Most recently FIA Tech announced that a new Sanctioned Securities dataset was added to the portfolio on December 2, leveraging global sanctions lists from key regulatory bodies in the US, UK, and EU to assist market participants in efficiently and accurately identifying and flagging ETD products with underlying indices or single stocks that may contain sanctioned entities.

Other services in the Databank Network include the Foreign Security Futures non-US index classification data set and the long-established Position Limits Databank, which consolidates and standardizes position limit and reportable threshold data applicable across global markets. Together, these products serve over 120 major global market participants who rely on FIA Tech’s solutions for critical compliance processes. The Databank Network also offers data sets with information on exchange fees, cross reference symbologies (Bloomberg, Reuters and GMI) and contract specifications.

About Sernova Financial
Sernova Financial is a leading provider of post-trade services, offering innovative solutions that optimize post-trade processes for financial institutions. With a focus on efficiency and transparency, Sernova Financial is dedicated to transforming the financial industry through its innovative services and deep domain expertise.

About FIA Tech
FIA Tech is the leading technology provider to the exchange traded derivatives industry. Owned by a consortium of twelve leading clearing firms and the Futures Industry Association (FIA), FIA Tech is committed to serving the industry and launching innovative solutions to improve market infrastructure across the listed and cleared derivatives industry. FIA Tech works in close partnership with the broader industry, including exchanges, clearinghouses, clearing firms and other intermediaries, as well as independent software vendors, buyside firms and end users to bring efficiency to the exchange traded and cleared derivatives industry.

For further information please contact:

For FIA Tech:
Candice Adam
cadam@fia-tech.com
+44 (0)7771 906 073

For Sernova Financial
Steve Luxton
steve.luxton@sernovafinancial.com
+44 (0)208 078 5552