18 October 2017
visit www.avoka.com

Penson selects SunGard for securities clearing and processing

21 November 2002  |  4247 views  |  0 Penson selects SunGard for securities clearing and processing

Texas-based Penson Worldwide Settlements (PWSL) is to deploy SunGard Securities Processing's STN Settlements solution at its London operation.

STN Settlements is an automated clearance and settlement service that connects custodians, broker-dealers, banks and futures commission merchants to depositories and clearing institutions, including Euroclear, Swift, and the US Government Securities Clearing Corporation's (GSCC) real-time trade matching (RTTM) system.

The solution provides post-execution comparison, matching and netting of trades and links to the Phase3 multi-currency system to provide straight-through processing (STP).

Mark Fawver, vice president, international clearing and settlement, Penson Financial Services, comments: "With the Swift and Euroclear interfaces contained in STN Settlements, we will be able to better handle the many settlement rules in each country, while also taking advantage of STN Settlements' workflow capabilities such as exception management and a range of other capabilities that make reconciliation much more efficient."

PWSL has also renewed its contract for Phase3 which it has used since 1995.
KeywordsBUY SIDE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

TD Bank Financial signs for SunGard Xamin portfolio system

TD Bank Financial signs for SunGard Xamin portfolio system

11 November 2002  |  5900 views  |  0 comments
SunGard upgrades treasury offering; signs Harvard for ISO 15022 Swift ASP

SunGard upgrades treasury offering; signs Harvard for ISO 15022 Swift ASP

05 November 2002  |  3860 views  |  0 comments
Brief: Dexia selects SunGard's IntelliMatch for exceptions processing

Brief: Dexia selects SunGard's IntelliMatch for exceptions processing

30 October 2002  |  3842 views  |  0 comments
State Street teams up with SunGard to offer FX system

State Street teams up with SunGard to offer FX system

28 October 2002  |  8070 views  |  0 comments
DekaBank goes live with SunGard's Decalog

DekaBank goes live with SunGard's Decalog

28 October 2002  |  4419 views  |  0 comments
SunGard launches Margin Advisor software

SunGard launches Margin Advisor software

22 October 2002  |  8768 views  |  0 comments
Penson to offer UK investment managers front-to-back office outsourcing

Penson to offer UK investment managers front-to-back office outsourcing

16 October 2002  |  3781 views  |  0 comments
Brief: Bank of Bahrain & Kuwait selects SunGard for treasury management

Brief: Bank of Bahrain & Kuwait selects SunGard for treasury management

03 October 2002  |  3197 views  |  0 comments
Brief: Bank Wegelin & Co chooses SunGard's intelliMatch for reconciliations

Brief: Bank Wegelin & Co chooses SunGard's intelliMatch for reconciliations

30 September 2002  |  3661 views  |  0 comments
SunGard intelliTran Customer Service deemed SwiftNet ready

SunGard intelliTran Customer Service deemed SwiftNet ready

30 September 2002  |  3762 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15319 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8497 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8019 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7542 views comments | 13 tweets | 9 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6642 views comments | 8 tweets | 16 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job