Vermiculus Delivers Microservice-based Vericlear™ Solution To Occ

By Author: James Colin
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Stockholm, January 24, 2024 Leading provider of clearing, trading, and CSD technologies worldwide, Vermiculus Financial Technology, has developed an innovative microservice-based solution with VeriClear, its cloud-native, real-time, elastically scalable, artificial intelligence-driven risk system. The Options Clearing Corporation (OCC), the largest equity derivatives clearing body in the world, has received this creative solution.

Vermiculus's cutting-edge and adaptable solution was selected for OCC's forthcoming platform, Ovation, due to its exceptional microservices design. This design enables seamless real-time modifications and supports the deployment of several microservices.

OCC Managing Director John Martino stated his delight with Vermiculus' risk application design, emphasizing the platform's real-time data consumption and compatibility with the modular design.

Microservices from Vermiculus are a great option for integrating into new or current systems because of their ease of connection with surrounding systems. Extensive and complex project initiatives are not necessary because of the architecture's ...
... exceptional flexibility.

A key element of OCC's multi-year Renaissance Initiative, which aims to completely revamp and update its technology infrastructure, is the creation of Ovation. With Ovation completed, OCC should be able to better assist market players by streamlining its operating structure, improving risk tools, and establishing a more reliable data management system.

The CEO of Vermiculus, Taraneh Derayati, expressed gratitude for the partnership with OCC and emphasized how they both have a visionary approach to utilizing cutting-edge technology. Derayati emphasized Vermiculus' dedication to a valued customer by pointing out that their microservices will help change OCC's technical infrastructure.

Vermiculus' real-time solution, VeriClear, is distinguished by its unmatched modularity and scalability, which guarantee excellent security and performance while preserving usability with an easy-to-use user interface. It offers enhanced risk management, superior performance, operational efficiency, and savings on margin and settlement by empowering clearing houses globally to oversee clearing in real-time.

Experts in the field launched Vermiculus Financial technical in 2020 with the intention of completely changing the technical environment for clearing houses, exchanges, and CSDs. With its headquarters located in Stockholm, Sweden, Vermiculus is home to a team of professionals with decades of combined expertise and knowledge. The company has successfully completed over 75 projects for the biggest clearing houses, exchanges, and CSDs in the world.

Vermiculus' solutions combine cutting-edge developments in dynamic microservice architecture with a wealth of knowledge satisfying the operational needs of exchanges, clearing houses, and CSDs. Robustness, quality, and flexibility are improved by using AI-driven microservices; higher environmental performance, elastic scalability, and cost-effectiveness are guaranteed by SaaS and cloud-based deployment.

In conclusion, OCC's infrastructure is changing as a result of Vermiculus Financial Technology's ground-breaking microservice solution, which is underpinned by VeriClear. The collaboration demonstrates a common dedication to innovation, modernization, and providing state-of-the-art solutions in the ever-changing clearing, trading, and CSD technological landscape.

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