- senior vice president, Sierra
- SunGard’s banks business
As senior vice president of the Sierra solution, Jim Dennelly is responsible for business strategy and product development for solutions that provide foreign exchange trading and post-trade functionality and fixed income trading tools, respectively. He was previously president of Sierra within GL Trade, which SunGard acquired in 2008. Before that, he was president of FNX, which was acquired by GL Trade in 2007. Previously, Mr. Dennelly worked at Federal Home Loan Bank as assistant treasurer responsible for investment strategies and portfolio management of its mortgage-backed and structured derivatives portfolios. Prior to that, he handled asset liability management and bank risk analysis for the bank’s risk management group.
The introduction of new regulatory requirements is driving increased automation in the FX back office and the need for more data. Regulators will demand that firms provide more detailed and timelier transaction data, including executed orders, counterparty information and spreads. Firms will also have to monitor their clients’ transactions as well as managing credit exposure and risk.
Other key trends include a move towards client collateralized margining for FX, increased straight-through processing rates and the development of automated processes to make clearing faster and more efficient. More efficient processing will, in turn, enable firms to deal with more high volume clients.