SunGard Financial Networks has launched a suite of new services designed to address the post-trade processing requirements of the international securities industry.
Available over the SunGard Transaction Network - a virtual network connecting buy-side institutions to broker-dealers and custodians - the delivery of post-execution facilities is designed to provide users with a single electronic connection from order entry to T+1 settlement.
The initiative puts SunGard on the radar screens of the GSTP-backed vendor coalition Axion4 and rival service Omgeo from DTCC and Thomson, which are preparing to roll out solutions for straight-through processing of cross-border securities trades.
According to Paul Schneider, chief executive officer, SunGard Financial Networks, the processing demands of T+1 are too important for the industry to leave to a single solution provider.
"Broker/dealers, asset managers and custodians are looking for options to solve their processing challenges," he says. "As a Swift ETC provider and with an eye toward global connectivity, SunGard looks forward to working closely with the GSTPA and Omgeo to deliver an interoperable solution to the marketplace."