LONDON, June 22 /CNW/ - SunGard and RBC Dexia Investor Services, one of
the world's largest fund transfer agents, have collaborated to provide an
automated fund trading and settlement solution for global markets. The
solution will help SunGard customers connect to and trade with approximately
9,000 additional funds available in Europe on RBC Dexia's platform through a
single connection. The solution will include RBC Dexia's fund trading Web
portal providing trading automation, custody and daily net settlement
integrated with SunGard Transaction Network's (STN) Funds trade routing for
funds in Europe and Asia. STN Funds provides customers with access to global
mutual funds, UCITS and exchange traded funds, and facilitates
straight-through processing between fund companies and a variety of bank,
brokerage and retirement recordkeeping and accounting systems.
The number of fund investments and the variety of fund choices continue
to grow worldwide. In Europe, however, the absence of a central trading and
clearing entity, and the challenge of managing trading parameters specific to
each fund complex, make trading funds a manual and costly process. By
providing a single connection to many fund choices, including more than 9,000
funds available on RBC Dexia's platform, STN Funds can help firms gain
operational efficiency and reduce costs and errors. It also helps eliminate
the need for customers to establish individual memberships with clearing
entities and separate trading agreements. This solution also provides
customers with revenue potential to help them increase intermediary revenues
and offset transaction charges.
Rob Wright, global head, product & client segments at RBC Dexia, said,
"In ever changing global markets, maintaining optimal levels of operational
efficiency can be challenging, particularly when managing multiple products
and specialist investment strategies. RBC Dexia's collaboration with SunGard
will help customers develop new products and expand into new markets by
providing global coverage and product breadth to meet increasingly complex
needs of global investors."
Bob Ward, chief operating officer of SunGard's wealth management
business, said, "The integration of STN and RBC Dexia's solutions will provide
global businesses with a virtual international fund platform that offers
product breadth for accessing mutual funds, UCITS and exchanged traded funds.
The service will provide the streamlined connectivity and trading,
straight-through processing and operational efficiencies financial
institutions need to effectively compete and grow their businesses."
About RBC Dexia Investor Services
RBC Dexia Investor Services offers a complete range of investor services
to institutions worldwide. RBC Dexia's unique offshore and onshore solutions,
combined with the expertise of its 5,500 professionals in 16 markets, help
clients grow their business and sustain enhanced performance through
efficiency improvements and robust risk management processes. Equally-owned by
RBC and Dexia, the company ranks among the world's top 10 global custodians
with US$1.8 trillion in client assets under administration. rbcdexia.com
A trade automation, compliance and connectivity solution, the SunGard
Transaction Network (STN) links institutions throughout the financial services
value chain, facilitating the purchase and sale of many securities types,
including U.S. and foreign equities, fixed income, mutual funds, money market
funds, certificates of deposit, and commercial paper. Integrated directly with
SunGard systems and with third-party systems, STN helps automate the entire
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 five
times. For more information, please visit SunGard at www.sungard.com.
(*) January 2009 Technology Vendors Financial Database Tracker
STN Order Routing 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 is exempted
from licensing under Australia Securities & Investments Commission Class Order
03/1099 and is regulated by the FSA under UK laws, which differ from
STN Order Routing Services offered throughout the United States are
provided by SunGard Institutional Brokerage Inc. (*) Member FINRA/SIPC (*) 377 E.
Butterfield Rd., Suite 800 (*) Lombard, IL, USA 60148
STN Order Routing Services provided in Japan and Singapore are provided
by SunGard Institutional Products LLC
Trademark Information: SunGard, the SunGard logo and STN 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.
RBC Dexia Investor Services Limited is a holding company that provides
strategic direction and management oversight to its affiliates, including RBC
Dexia Investor Services Bank S.A., a credit institution licensed in Luxembourg
by the Commission de Surveillance du Secteur Financier and the Ministry of
Finance. All are licensed users of the RBC trademark (a registered trademark
of Royal Bank of Canada) and Dexia trademark (a registered mark of Dexia
Crédit Local) and conduct their global custody and investment administration
business under the RBC Dexia Investor Services brand name.
For further information:
For further information: Adriana Senior, SunGard, Tel: (718) 578-1130,
Email: firstname.lastname@example.org; Alex Clelland, RBC Dexia, Tel: +44 (0)20
7002 2009, Email: email@example.com