SunGard Business Integration has completed full scenario testing with GSTPA's Transaction Flow Manager (TFM) for both US and UK equity trades.
The scenarios comprised the full TFM messaging suite, complying with the TFM business protocol for both exchanging trade information and handling status messages. The scenarios were handled by SunGard's Mint GSTPA Solution, which is based on Mint Knowledge Master for control of business logic, Mint Knowledge Broker which provides connectivity and dynamic routing, and Mint TFM Adapter acting as a communication layer with the TFM.
A Web-based view of the aggregated trade details allowed business users to monitor trade status throughout the whole trade lifecycle. Trades were processed straight-through, with no manual intervention whatsoever.
Philippe Lecomte, vendor co-ordinator at axion4gstp, comments: "This represents yet another welcome development on the road to STP, as major vendors like SunGard have much experience and valuable technologies to bring to the party. We certainly congratulate SunGard Business Integration on their recent test performance."
SunGard claims to be having serious conversations with about six institutions who are considering using the Mint platform. These include smaller institutions who might want to use SunGard's own virtual matching utility service which is being primed for launch in Q2 next year, and some of the first wave of trial TFM participants who are struggling with their own inhouse connectivity programmes.
Of the 33 brokers, custodians and fund managers initially running tests with the TFM, at least 18 have decided to develop and implement their own inhouse systems and eight have signed with Mercator. Other third party vendors include Dovetail and SeeBeyond, each of which have one confirmed client apiece.