Credit Lyonnais implements SunGard STN Settlements

Credit Lyonnais implements SunGard STN Settlements

Credit Lyonnais Securities USA has implemented SunGard Securities Processing's STN Settlements application to manage real-time trade messaging for both domestic and foreign securities.

The US trading arm of the French bank initially deployed SunGard's Phase 3 ASP-based service in March 2001 as a single platform for processing US and foreign equities, US Treasury bonds, corporate bonds, and foreign fixed income securities. STN Settlements interfaces directly with Phase3 to automatically update trade positions and account books and records.

Rich Jablonski, COO, Credit Lyonnais Securities USA, says: "Phase3 and STN Settlements give us the flexibility to add new products to our repertoire as our business needs dictate, and automatically handle processes with less manpower and without errors."

Credit Lyonnais Securities also plans to add a STN Settlements interface with the Government Securities Clearing Corporation's (GSCC) Real-Time Trade Matching (RTTM) system in early 2003 to handle Fed-eligible fixed income trades.

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