SEB Equities has deployed 4sight's Oneworld settlement system for its derivatives business.

The settlement system enables SEB to process domestic and non-domestic equity and derivative trades on Oslo, Eurex and Nasdaq OMX exchanges.

Sven Andersson, head of electronic execution equities SEB said: "The 4sight system will enable us to increase trading volumes as our business expands and achieve significant operational efficiencies from using a single system solution to manage our clearing and settlement process across multiple business lines."

SEB has already used 4sight's settlement solution for equities trading and sought to reconcile settlement systems across different business lines with a single system.

After a competitive tender process, 4sight was chosen because of the strength of its customer support, extensive project management experience and ability to quickly develop support for new product types and market connections.

The project involved adding the settlement of new product types to the 4sight OneWorld Settlement system, establishing connectivity with a number of CCPs and data migration from SEB's legacy systems.

"We are delighted with the success of the implementation," said Alastair Chisholm, 4sight's managing director. "This project adds to the growing use of 4sight's software products in Nordic region, with a number of Swedish banks now using 4sight's settlement, collateral management and securities finance solutions."