SunGard Launches Latest Release of Sierra for Advanced FX Trading
New York– July 7th 2009 – SunGard has launched the latest release of Sierra, a solution for FX trading. The latest release provides an enhanced, single-platform that helps customers manage FX risk, handle increases in FX volumes and streamline FX operations by automating transaction flows. SunGard offers the latest release on a licensed or ASP (application service provider) basis.
SunGard’s Sierra has been developed to help customers reduce the costs associated with their FX trading operations, as well as improve their client service. Its availability on an ASP basis means that it can provide faster time to market, improved cost efficiencies and reduced maintenance. Some of the benefits of the latest release include:
- A customer white-label module that helps banks provide clients with easy access to streaming rate dealing, position management, deal status check and current market quotes.
- A margin trading and collateral management module that monitors and analyzes client positions and risk in real-time.
- A high volume, automatic customer rolling and fund splitting process that helps minimize human error and reduce operational risk.
- Real-time multi-branch support available in a single solution that provides greater transparency across the organisation while helping maintain local autonomy.
- Enhanced support for non-deliverable instruments, including new trade types, automated fixing and improved risk management.
Jim Dennelly, senior vice president at SunGard’s Sierra business unit, said: “The combination of Sierra’s latest FX functionality with SunGard’s strength, size and experience makes Sierra a safe choice FX solution for banks, FCM’s (Futures Commission Merchants) and hedge funds. The latest release of Sierra will help better equip our trading customers at a time when costs and risks must be managed.”
About Sierra
SunGard’s Sierra is an end-to-end trading solution that provides real-time connectivity to multiple trading partners; P&L, position keeping, risk, margin and cash management; streamlined processing capabilities; and capital markets accounting. Sierra is designed to meet the needs of financial institutions of varying sizes and levels of complexity, from two user hedge funds to global banks with the high volume, global trading operations. Sierra is available either in-house or on an ASP basis.
About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world’s 25 largest financial services companies.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Sierra are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.