Press Releases
FXall and SunGard To Offer Money Market And FX Services To Customers
August 18, 2009 — London, UK
FXall, the world's leading electronic foreign exchange platform, and SunGard are offering money market funds to FXall clients and FX services to customers of the SunGard Transaction Network (STN). These enhancements give customers the ability to access money market investments and FX trades from a single platform.
The connectivity between the two platforms gives FXall clients the ability to trade money market funds directly through their current browser interface using SunGard’s STN Money Markets portal, a global, multi-currency trading and connectivity solution for institutional money market investors, such as corporate treasurers and hedge funds. This provides a centralized, automated source to buy and sell shares in institutional money market funds, and gives corporate treasurers the ability to research, analyze, trade and report on more than 240 money market funds.
In addition, SunGard has enhanced its STN Money Markets portal to provide customers with access to FXall's market leading FX trading solution. This helps customers take advantage of a broad range of FX products and trading strategies, and a deep pool of liquidity, while meeting their best execution and workflow management needs.
This development extends the asset classes tradable via FXall's award-winning FX platform, thus offering clients a broad product range and greater flexibility in their money markets trading activity with the support of full straight-through processing (STP) functionality.
Commenting on the agreement, Phil Weisberg, CEO of FXall, said: "The ability to offer access to a significant depth and breadth of money market funds is a key development for both FXall's existing client base and the wider FX market. It provides clients with a best-of-breed single point of execution for a broad range of new assets. Demand for FX trading and workflow solutions continues to grow and the agreement enables FXall to deliver improved execution alternatives, as well as accounting, compliance and reporting functionality to corporate clients at a time when these capabilities are a priority. We look forward to the synergies this relationship will bring for both organizations."
Kevin Rafferty, president of SunGard’s wealth management business, added: "With significant growth in demand for FX trading services amongst corporate treasury and money market fund managers, the ability to trade FX is especially important for multinational organizations looking to expand upon their currency trading and get the most out of their excess capital investments. These organizations require greater diversification of their short-term investments from one reliable platform, and unlimited access to an extensive range of both on- and off-shore money market funds.”
About FXall
FXall gives institutional clients an edge in foreign exchange trading as the leading independent electronic platform. We deliver the expertise, resources and commitment of a neutral platform with the broadest suite of FX trading solutions that combine execution tools with end-to-end workflow management and straight through processing. Our flexible tool set delivers the right execution strategies and liquidity in all market conditions for over 800 institutions globally. FXall’s offices in New York, Boston, London, Tokyo, Singapore and Sydney serve the needs of active traders, asset managers, corporate treasurers, banks, broker-dealers and prime brokers.
For more information on FXall, visit www.fxall.com
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
STN brokerage services offered throughout Europe, the Middle East, Africa and Asia Pacific are provided by SunGard Global Execution Services Limited - Authorised and Regulated by the Financial Services Authority * Registered in England and Wales No. 3127109 * Registered Office: 25 Canada Square, London E14 5LQ.
SunGard Global Execution Services Limited (ARBN No. 132 508 742), is exempt from licensing under Australian Securities & Investments Commission Class Order 03/1099 and is regulated by the FSA under UK laws, which differ from Australian laws.
STN brokerage products and services offered in the United States are provided by SunGard Institutional Brokerage Inc., Member FINRA/SIPC.
Trademark Information: SunGard, the SunGard logo and the SunGard Transaction Network 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.