Front Capital Systems, an operating unit of SunGard, has released a back office enhancement to its Front Arena system, aimed at at customers within OTC derivatives.
The software will provide straight-through processing (STP) on cash settlements, general ledger postings and trade confirmations.
John Mooren, head of product management, Front Capital, says: "We will initially begin targeting smaller market players who are less willing to support several interfaces, products and multiple vendors."
Front says it began investing in the processing and administration side of the product at the end of 2001 and also recruited back office experts for the project.
The product, which is to be offered as part of an enterprise-wide package, will be implemented at client sites from April 2003.