SunGard today announced that European Credit Management, a specialized investment manager based in the UK, has selected intelliMATCH to help automate matching and reconciliation across its portfolios with prime brokers and fund administrators.
European Credit Management (ECM) has grown significantly over the past several years, with assets under management that currently exceed €18 billion. As it continues to grow and add new asset classes, the organization needed a reconciliation tool that could handle rising volumes and support a range of different, and in some cases complex, securities on a single platform. ECM chose intelliMATCH for its ability to manage asset classes, including the key fixed income asset classes managed by ECM: corporate bonds, CDS, bank capital, asset backed securities, emerging market debt and leveraged loans. intelliMATCH also met the organization's requirement for scalability to support volume increases as the business continues to grow.
"In addition to flexibility and scalability, one of the key differentiators that influenced our selection of SunGard’s intelliMATCH was the solution's ability to help ECM's fund administrators to access relevant portfolios and funds via the Web," commented Rob Galione, head of operations, European Credit Management.
ECM will use intelliMATCH to reconcile cash positions across its fixed income portfolios from its accounting and settlements systems with its prime brokers and custodians. The intelliMATCH Dashboard will provide ECM with a real-time view of its matching and reconciliation operations, for managers and users, quickly identifying breaks and exceptions to help reduce operational risk.
Tom King, president of SunGard's STeP business unit, commented, "The addition of European Credit Management to our growing community of asset and investment managers highlights the industry’s trend toward automation. We look forward to working with ECM and other buy-side institutions to help streamline their transaction management processes and help them reduce operational and financial risk."
Separately, SunGard today announced that New York-based Prudential Equity Group, LLC has selected the BRASS solution as its trading platform for listed and NASDAQ securities.
Prudential Equity Group executes trades on behalf of more than 2,000 institutional clients through its offices in the United States, Europe and Japan. BRASS is a sell-side order management solution for fee-based trading, Nasdaq agency and market making, New York Stock Exchange block, listed market making and sector-based trading. It provides equity trading, market access, and trading compliance.
Prudential traders will use the BRASS solution suite for automated routing and execution of order flow within a secure, fully redundant, ASP-based delivery environment. BRASS will provide the ability to leverage a single platform for order management and direct market access to help the firm more efficiently execute its sector-based, sell-side strategy.
Raj Mahajan, president of SunGard’s BRASS business unit, said, "SunGard works in collaboration with its customers to provide solutions that help support their businesses and address complicated compliance requirements. The BRASS solution suite continues to assist over 140 customers in the US, providing mission-critical functions to help them grow their business."