SunGard has launched its Loanet.Net International Compare service which enables securities finance market participants to compare and reconcile securities lending transactions electronically with contra parties on a global basis.
SunGard says the service is the first of several initiatives it plans to deliver for international securities finance firms this year - including international non-cash marks, billing compare, recalls (ARM), repo compare for the middle and back office and international order routing for the front office.
Loanet.Net International Compare provides trade comparison and correction processing for borrows and loans in equity and corporate debt as well as non-cash and cash pool collateral. The system extracts data from customers' core equity finance recordkeeping applications for comparison, provides Web-based exception review and real-time correction, and processes the appropriate adjustments in the core applications.
SunGard says the service will help users to take ownership of differences while communicating with contra parties for faster resolution.
Brian Traquair, president of SunGard's Loanet business unit, says the service "helps capture, compare and correct errors in real-time, helping to reduce market exposure and monthly billing differences, which helps translate into cost savings".