The Clearing Corporation, Chicago based software house is to acquire a derivatives and securities trade processing vendor, onExchange.

onExchange, headquartered in Lexington, Mass.has a main product in Electronic Clearing System (ECS). Technology wise ECS is built using Java. However the application suite is solidly built to J2EE standards.

The framework allows for hardware and vendor independence, real-time transaction processing and straight through processing.

Current customers include New York Clearing Corporation, New York Mercantile Exchange, The New York Board of Trade, London Clearing House.