Quadriserv, INC. and SunGard to Collaborate in Support of Securities Lending
May 13, 2009 — London, UK
Integration of SunGard’s Loanet and Quadriserv’s AQS™ Securities Lending Platform to Provide Straight-Through Transaction Processing
Quadriserv and SunGard today announced a joint initiative under which SunGard’s Loanet securities lending processing technology and Quadriserv’s AQS securities lending marketplace will integrate to provide seamless transaction processing. AQS is operated by Automated Equity Finance Markets, Inc., a wholly owned subsidiary of Quadriserv.
The systems integration will provide Loanet customers with ready access to AQS, Quadriserv’s regulated centralized and transparent securities lending marketplace. Transactions matched on AQS are processed through The Options Clearing Corporation (OCC), which provides central counterparty guarantees and trading anonymity.
John Grimaldi, executive vice president and general manager of SunGard’s Loanet
business unit said, “For several years we have been closely monitoring the evolution
of the securities lending market towards both greater operational efficiencies and a
central counterparty structure. This collaboration with AQS advances our efforts on
both fronts, as our mutual customers will benefit from enhanced Loanet services and
access to Quadriserv’s AQS securities lending marketplace.”
"AQS is committed to an open-door partnership policy, which we believe will facilitate
access to the AQS marketplace from the broadest range of industry participants,”
commented Gregory W. DePetris, Co-Founder of Quadriserv. “The strategic initiative
with SunGard – and the integration of the AQS marketplace with SunGard’s Loanet
suite of securities lending solutions – embodies this approach. We are pleased to
formalize this collaborative relationship with SunGard, and look forward to our
continued work with them to deliver innovative, productivity enhancing technology to
the securities lending industry.”
SunGard’s Loanet and AQS will deliver increasing levels of functional integration for
their mutual clients over the coming months. These enhancements include further
improvements to operational efficiencies and trade automation, and ultimately
support for straight-through processing and multi-product integration.
About Quadriserv, Inc.
Quadriserv is a leader in delivering transformational market structure changes to the
securities lending industry. Quadriserv, through its wholly owned subsidiary,
Automated Equity Finance Markets, Inc., has developed the AQS platform for
securities lending. AQS, through its relationship with The Options Clearing
Corporation, has created a centrally-cleared marketplace for securities lending
transactions in the U.S., and plans to expand into the European market through its
relationship with Eurex Clearing. As a FINRA member broker-dealer and a SEC
regulated alternative trading system (ATS), AQS aims to maximize liquidity, access,
credit and transparency, while mitigating systemic risk, through a fully automated
trading environment. For more information about Quadriserv, please visit
www.quadriserv.com or
www.tradeaqs.com.