ATEO LISA OVERVIEW

Terminology

• Trade: Execution received from the exchange or sent to us by another member.
• Order: Clearing instruction (change of account, open/close, Give-Up, etc.) which can be matched with a trade and sent back to the clearing house.
• Give-In: Execution sent to us by another member.
• Give-Up: Execution sent by us to another member.
• House account: Special type of account which represents business executed for the firm.
• Client account: Special type of account which represents business executed for the firm's clients.

LISA Description

ATEO LISA is a clearing solution for the global derivatives market. It is a Straight Through Processing (STP) solution providing interfacing with clients, trading and back-office systems. LISA is a Matching and Clearing engine built to meet the new requirements set by today's derivative markets. It consists of several modules to help derivatives exchange members achieve clearing tasks efficiently.

LISA is a Middle Office system which can be used on global derivatives markets having a central clearing house and has been designed to handle the market's growing challenges of high trade and order volumes.

LISA Rich Features

Thanks to its new state of the art user interface, LISA allows its users to match all types of order allocation data (clearing instructions) with order executions (trades) read directly from the exchange feeds or up-stream systems.

In addition, LISA enables the setup of Matching/Clearing rules to completely automate the matching of specific allocations with trades.

LISA Exchange Gateways read not only Execution data and Allocation information but also all data useful for the audit trail required by Risk and Compliance Departments. For example, LISA can track client positions and manage risk limits by monitoring in-house trades as well as received allocations from remote trading systems.

LISA is used by Middle Office operators to perform traditional tasks, such as manual clearing activities and static data management.

Manual clearing activities includes features such as:

Viewing trades and orders

Following the progress of the matching and clearing process

• Manual trade allocation
• Performing Give-Ups
• Receiving Give-Ins
• Performing Splits
• Viewing an audit trail of trades and orders
• etc.

Middle Office Users can also create, update, and delete static data, such as:

• Exchange
• Contract
• Account
• Exchange Member
• etc.

Architecture

As a clearing tool, LISA gives you the ability to send clearing instructions to the clearing house. As a matching system, you will be able to easily match executions (trades) with their corresponding clearing instructions (orders) which could be fed directly from a front office tool like TEO.