The industry-owned technology backbone quietly running derivatives post-trade.
Every day, millions of derivatives contracts change hands across the world's exchanges. What happens after the trade - the confirming, allocating, settling and reconciling - is where the real complexity lives. FIA Tech is the company that handles it.
FIA Tech is a leading technology provider to the global exchange-traded and cleared derivatives industry. It builds the post-trade infrastructure that clearing firms, brokers, futures commission merchants (FCMs) and buyside firms rely on to move brokerage payments, digitize legal agreements, standardize reference data and stay compliant with regulators.
Founded in 2007 under the Futures Industry Association, the firm spun out in 2021 as an independent, consortium-owned company. Its footprint is global but low-profile, with teams in Chicago, London, Nashville, New York, Tampa and Washington, D.C.
The problems FIA Tech solves are unglamorous but expensive. A single futures trade can touch multiple executing brokers and a clearinghouse, each keeping its own record. When markets spike, those records diverge - and reconciling them can take days. The early-2020 volatility, followed by the Ukraine war and the Silicon Valley Bank failure, exposed just how fragile that manual process was.
Out of that stress came the company's most ambitious product: the Trade Data Network, a shared ledger designed so brokers, clients and clearinghouses can all see the same version of the truth.
FIA Tech's users number more than 8,000 futures market participants - buyside firms, FCMs, introducing brokers, market makers, clearinghouses and end users. Its flagship Trade Data Network alone connects 16 banks and brokers with over 40 investment managers and hedge funds representing more than $37 trillion in assets under management.
The business model is B2B market infrastructure: subscription and transaction-based fees for post-trade technology services. But the twist is ownership. FIA Tech is owned by a consortium of 13 global clearing firms - BNP Paribas, HSBC, Bank of America, Barclays, Citi, Goldman Sachs, JP Morgan, Wells Fargo and more - alongside the Futures Industry Association.
That structure is the whole point. Neutral infrastructure needs neutral ownership. Because FIA Tech answers to the industry rather than external shareholders, it can position itself as common ground rather than a competitor to any one participant. It also explains an unusual funding story: nearly $70 million raised without a single venture-capital firm on the cap table.
A shared ledger giving brokers, clients and clearinghouses one transparent view of allocations, confirmations and trade lifecycle across every party on a trade.
Trade processing, brokerage calculation and settlement - managing executing-broker fee payments across 100M+ contracts a month.
The Electronic Give-Up Agreement System digitizes give-up agreements and feeds settlement systems to lift electronic settlement rates.
A global reference-data network sourced from 80+ exchanges and standardized into a single golden source for regulatory compliance.
Helps FCMs, clearing members and brokers comply with the CFTC's ownership and control reporting rules.
A web-based application to manage and reconcile payables and receivables accruals against back-office accounting systems.
FIA Tech's 2021 spin-off was backed by a $44 million Series A from a who's-who of clearing banks, including ABN AMRO Clearing, Bank of America, Barclays, Citi, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, UBS and Wells Fargo.
In June 2023, an additional $25.4 million round - led by new investor BNP Paribas alongside six existing shareholders - brought total funding to nearly $70 million. In 2025, HSBC became the 13th clearing firm to join the consortium and board.
FIA Tech operates in derivatives post-trade infrastructure, a market that has long run on a patchwork of vendor systems and in-house bank tooling. Its rivals include commercial infrastructure providers such as OSTTRA - the CME and S&P Global joint venture that absorbed Traiana and MarkitServ - along with DTCC and Broadridge, plus the internal systems that a shared network aims to replace.
What sets FIA Tech apart is less a feature than a posture. Where competitors sell to the industry, FIA Tech is the industry. Its consortium ownership makes it credible as neutral ground, and its expertise is deep and narrow: exchange-traded and cleared derivatives, the trade lifecycle, and the regulatory demands that surround them.
That expertise now points toward the future. CEO Nick Solinger - who joined from Traiana, where he led swaps and regulatory product strategy - has described a "new normal" of post-trade operational stress, and has flagged AI and tokenization as areas the firm is watching. Recent moves reinforce the direction: an eClerx partnership added a 24x5 global operations desk, and 2026 brought a new Chief Product Officer role in London and transparency work on Nasdaq Custom Basket Derivatives.
Established under the Futures Industry Association to bring technology to the futures industry.
Covid volatility and later shocks leave firms untangling "who traded what with whom" for days.
A consortium of clearing banks funds the spin-off into an independent company.
Total funding reaches nearly $70 million; BNP Paribas joins the ownership consortium.
HSBC becomes the 13th clearing firm to invest; FIA Tech settles record ETD volumes and launches XCA fee analytics.
A Chief Product Officer role is created in London and transparency tools extend to Nasdaq Custom Basket Derivatives.
FIA Tech provides post-trade technology for the exchange-traded and cleared derivatives industry - including brokerage settlement, give-up agreements, reference data, compliance reporting and its Trade Data Network shared ledger.
It is owned by a consortium of 13 major global clearing firms - including BNP Paribas, HSBC, Citi, Goldman Sachs and JP Morgan - together with the Futures Industry Association.
The TDN is a shared ledger of trading information that brings transparency to fragmented ETD post-trade processing, spanning 16 banks/brokers and 40+ managers with over $37 trillion in assets.
Nearly $70 million total - a $44 million Series A in 2021 and a $25.4 million round in 2023 - all from industry participants rather than venture capital.
Nick Solinger is President and CEO. He joined from Traiana, where he led product strategy for its swaps and regulatory business.