Press Releases
SunGard to Develop STP Solution for Processing Carbon Derivatives Contracts on BlueNext
March 2, 2009 — Paris
SunGard and BlueNext, a leading exchange for carbon spot and derivatives contracts, are to collaborate in the development of a straight-through processing (STP) solution for post-trade operations on the BlueNext exchange. The solution will include enhancements to SunGard’s GL Clearvision and GL Ubix that will provide increased functionality for customers trading carbon derivatives.
A new clearing gateway will help SunGard's GL Clearvision customers automate the matching and clearing of operations traded on the exchange, while SunGard’s GL Ubix will be developed to help customers process margining, as well as commissions and fees.
Jean-Pierre Hort, deputy chief executive officer at BlueNext, said: “This collaboration will help members of BlueNext Futures, who are also GL Clearvision and GL Ubix customers, benefit from a full STP solution for BlueNext activity. This new offering will help us promote our derivatives trading services to a wider community.”
Vincent Burzynski, chief product officer for SunGard’s global trading business, commented: “With expanding global trading operations, many of our customers are looking for STP solutions to help them avoid manual trade processing. Our collaboration with BlueNext reflects SunGard’s continuing commitment to develop solutions that help customers decrease their operational costs and risks.”
About BlueNext
BlueNext was incorporated on 21 December 2007 when NYSE Euronext and Caisse des Dépôt joined forces to create the world's largest exchange for environmental-related products.
BlueNext offers both EUA and CER Carbon Futures contracts: the EUA Futures have an underlying based on the European Union Allowance 2008-2012; while the CER Futures have an underlying based on Certified Emission Credits in accordance with the Kyoto Protocol established to reduce Greenhouse gas emissions.
About SunGard’s GL Clearvision
GL Clearvision is an automated real-time middle-office matching and clearing system for derivatives providing true STP between front-office, exchange and back-office systems.
About SunGard’s GL Ubix
GL Ubix is a derivatives back-office system covering exchanges. Based on an open architecture, it offers full back-office features from margining to commission management and provides time-zone independent processing.
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 472 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 five 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, GL Clearvision and GL Ubix 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.