Press Releases
SunGard’s Sierra Trading and Risk Solutions Integrate with Traiana to Help Streamline Post-Trade FX Processing
November 18, 2009 — New York
SunGard has integrated its Sierra suite of trading, risk and position management solutions with Traiana’s Harmony Network. Traiana is a market standard for post-trade processing of foreign exchange (FX) trades. The integration will give customers of both platforms the ability to consolidate executions across venues in order to help streamline FX post-trade processing and settlement, and deliver efficiencies to all constituents of their trades.
The integrated solution will automate the give-up process in the foreign exchange prime brokerage community, electronic communications networks and single dealer platforms. The straight-through processing this will offer SunGard’s Sierra customers will help them to save costs, reduce risk and gain transparency. In addition, transactions can be reconciled via Traiana’s Harmony in real-time with external parties. SunGard’s Sierra solution can be hosted on an application service provider (ASP) basis or deployed as an on-premises licensed version.
Illit Geller-Gurfinkel, executive vice president of business development at Traiana, said, “We are pleased to be working together with SunGard. The combination of Traiana Harmony’s end-to-end post-trade solutions and SunGard’s Sierra trading, risk and position management solution will help to improve efficiency and encourage the use of best of breed technology in the FX market.”
Jim Dennelly, senior vice president of Sierra at SunGard’s capital markets and investment banking business, commented, “We continue to find ways to provide our customers with the best possible service and solutions. The integration with Traiana’s Harmony network will mean that we can provide post-trade processing for foreign exchange trades directly to our customers, which will help them gain processing efficiencies and reduce cost. Traiana’s FX processing expertise, coupled with SunGard’s capability in risk management, will help us offer a complete trading solution to our customers.”
About Traiana
Traiana Inc. (www.traiana.com), an ICAP company, provides global banks, broker/dealers, buy-side firms and e-trading platforms with solutions to automate post trade processing of financial transactions. Traiana's Harmony network is used by over 500 of the world's leading financial market participants and has become the market standard for post-trade processing of foreign exchange transactions. Traiana is headquartered in New York City with offices in London, Chicago and Tel Aviv.
About Sierra
SunGard's Sierra is a suite of FX and treasury solutions for buy- and sell-side financial institutions. Sierra provides real-time connectivity to multiple trading partners, P&L and position management, FX margining, integrated risk management, post-trade processing capabilities and capital markets accounting. Sierra is available as an ASP solution through SunGard’s secure data centers or on an on-premises 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.
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.