SunGard reports surging Loanet volumes

Source: SunGard

SunGard announced today that its Loanet Centralized Order Routing (LCOR) service for automated securities borrowing and lending has reached a volume milestone of 100,000 borrow requests per day, representing $60 billion in daily requests for execution, about double the daily value of one year ago.

In 2005, LCOR processed over 22 million borrow requests totaling $6 trillion for the year.

Brian Traquair, president of SunGard’s Loanet business unit, said, "We are seeing a steady increase in the number of participants using LCOR because of its accessibility, reliability and effectiveness. LCOR is a unique alternative to many of the manual, batch or bulletin-board style approaches available for borrow execution, and its ability to integrate with other systems extends its value even further."

Launched in 1999 and currently used by more than 65 borrowers and 50 lenders, LCOR is a free interactive message network that helps participants to submit requests to borrow, route unexecuted orders to multiple lenders, execute loan transactions, view multiple portfolios, and manage electronic borrow and loan order flow. The service integrates with SunGard's Loanet, Global One and WorldLend, and other securities finance processing and accounting solutions to help provide straight-through processing.

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