SunGard ports to IBM for STP campaign
15 March 2002 | 3807 views | 0
IBM and SunGard Data Systems have agreed an extended partner programme aimed at delivering combined straight-through processing product offerings to investment management, broker/dealer and custodian and private banking segments.
Under the agreement, SunGard will port a number of its financial services applications to IBM eServer pSeries, zSeries and iSeries hardware and will expand its use of DB2 database software and the WebSphere infrastructure software platform, including the MQ family of information integration products.
IBM will incorporate SunGard's Global Plus real-time, multi-currency, asset management and accounting platform; WorldLend, a multi-platform client-server solution for securities lending; and Omni IC, a real-time multi-platform system for domestic or global custody accounting, into its financial services solutions suite.
IBM also plans to use SunGard's BrokerWare, a messaging/middleware platform that allows a financial institution to offer both its customers and its brokers full online trading and portfolio management capabilities, as part of its front office and integrated wealth management offerings.
The agreement also calls for IBM to expand its global services financial services integration practice to include specialists focused on providing consulting, customisation and services for IBM and SunGard financial services solutions.
Elaine Sullivan, general manager of IBM global financial markets, comments: "Impending regulations demand that trades be eventually settled within one day, as opposed to the three to five days. SunGard's solution, coupled with IBM's hardware, middleware and services, will allow our customers to meet T+1 requirements."
Under IBM's PartnerWorld for Developers programme, the company has signed a number of agreements with leading software vendors in a bid to expand its middleware, server platform and services offering to vendor customers. In return, the vendors gain access to IBM's marketing, sales and solutions resources.