Multiple Instrument Clearing System (MICS)

Key Features

  • Full clearing house management
  • Central counter-party and bilateral clearing with support for multiple settlement cycles
  • Initial, Variation, Additional, Settlement Margin calculations
  • Cash or physical settlement of futures including time-bound, staggered deliveries
  • Real-time cash and/or accrued marking to market
  • Generation of claims and contract adjustments due to corporate actions
  • Configurable fee structures
  • Customized reports in various formats

* MICS integrates with GCMS used by clearing members, to ensure the most efficient derivatives settlement cycle and manage market risk.

Product Overview

Multiple Instrument Clearing System (MICS)

STT’s MICS is a world class Clearing system developed and enhanced over the past 30 years, providing a complete clearing and settlement system for any asset class including any Derivative product.

MICS provides an exchange or clearing house with a truly flexible clearing system capable of being configured to handle multiple markets, using different margining methodologies and calculations.

With its built-in real-time risk system providing real time positions, exposure, profit/loss and margin requirements, clearing houses have the tools to pro-actively monitor and manage the market.

Built on the latest Microsoft.NET technology, MICS is a highly scalable system capable of running on any operating system.

Built as a standalone system, MICS can integrate to STT’s ATS, or any third-party matching engine, as well as downstream Clearing Member systems such as STT’s GCMS.

Solution Screenshots

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