SunGard delivers single-screen access to short-term instruments
12 November 2003 | 3288 views | 0
SunGard Financial Networks has released a new version of its SunGard Transaction Network (STN) Money Markets service which provides institutional investors with single-screen access to commercial paper, certificates of deposit and money market funds.
Clients previously traded instruments separately via a combination of phone and stand-alone trading systems but will now have access to commercial paper and CD's from more than 80 issuers, plus 100 money market funds from 25 different fund families.
Through STN Money Markets, investors can view offering information and execute trades electronically and access fully integrated balance reporting across all available investment types.
The service enables users to manage multiple sub-accounts from a single login and to create unique login ids with different access levels.
The system also provides centralised account instructions, comparison of real-time rates on a variety of short term investments, the ability to execute and immediate notification of trade status and CUSIP. Full disclosure and transparency also allows investors to continue to get 'relationship credit' when dealing with credit banks for money market funds.
Darlene Coppola, money market trader at National Life Capital Management - which has been using STN Money Markets for three years - says: "The new service presents our traders with a range of issues and instruments in a single window. This makes funding decisions and yield comparisons a snap while significantly streamlining our investing process."