Press Releases
SunGard Enhances GL RIMS To Provide Integrated Solution for Moroccan Securities Industry
October 13, 2009 — London
SunGard has enhanced GL RIMS, its securities post execution processing solution for the middle- and back-office, to include securities processing capabilities specific to the Moroccan securities industry.
The GL RIMS solution provides comprehensive post-execution processing, including matching with the daily market positions updates received from the Casablanca stock exchange in real-time, to generating regulatory reports, including local bills such as Circulaire 03/97 and Circulaire 04/97. It will also cover processing allocations, enriching trades with charges and managing settlement of market execution through the Maroclear interface, the local clearing house. In addition, counterparty position information can be pushed to the front-office for pre-execution risk management.
GL RIMS supports existing and upcoming specific files in the current Maroclear interface, including AOE, ARE, AOR, RMQ, RCQ, AOC and REQ files. It has also been enhanced to include market trades settlement recording capabilities to support the new Maroclear interface.
The system can generate confirmations and reports in French, Arabic and English and user screens are also available in the user’s chosen language. The functionality is fully integrated with the global middle- and back-office capabilities of GL RIMS. This means that Moroccan brokers who are expanding in overseas markets will be able to benefit from GL RIMS’s multi-company, multi-market, multi-currency and multi-language capabilities.
Vincent Burzynski, chief product officer for SunGard’s global trading business unit, commented: “SunGard has always been committed to adapting its solutions to meet the evolving needs of brokers according to their local environment. Our knowledge of the Moroccan securities industry - we have been providing connectivity to the Casablanca stock exchange since 1996 – means that we are well placed to understand the competitive challenges for Moroccan brokers. The enhancement of GL RIMS means that we can now support Moroccan brokers with processing trades through the new Maroclear interface, as well as attract new clients from outside the region.”
About SunGard’s GL RIMS
SunGard’s GL RIMS (Real-Time Integrated Multi–Instruments Solution) is a comprehensive real-time securities post execution processing solution for the middle- and back-office. It is highly scalable and its wide use of automation helps enable global capital markets organizations to achieve maximum STP.
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.
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 GL RIMS 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.