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FTN Financial goes live with SunGard's Adaptiv

23 May 2007  |  2287 views  |  0 Source: SunGard

SunGard today announced that Memphis, Tennessee-based financial services provider FTN Financial has successfully completed the implementation of SunGard’s Adaptiv 360 solution to help it streamline the management of its OTC derivatives activities.

The deployment of SunGard's Adaptiv 360 will help FTN Financial support its growth in derivatives trading, utilizing a single platform for desk-level risk, trade processing and operational functions. The infrastructure will help FTN Financial enhance its control of its derivatives business and minimize risk. SunGard's Adaptiv solution will also automate and manage many of the tasks that were formerly labor-intensive and spreadsheet-based, resulting in greater efficiencies. The flexibility of Adaptiv 360's reporting will also help FTN Financial analyze its trades and portfolios, while testing and monitoring its investment strategies at all levels and across all products. SunGard's Adaptiv 360 provides a platform that helps the front-office and back-office functions to operate independently without the need for synchronized processing functions or data transfer.

Rick Redmond, head of FTN Financial's derivative products group, commented, "FTN Financial offers a wide range of interest rate derivative products and derivative support services to a nation-wide client base. SunGard's Adaptiv 360 allows us to accurately price and trade a diverse range of derivative structures customized specifically for each client. Adaptiv 360 also gives us the capability to provide post-trade valuation and accounting support to our clients."

Bill Buck, head of operations, FTN Financial, commented, "We chose SunGard's Adaptiv 360 because of its wide range of functionality. By streamlining our activities onto this one solution we have been able to achieve greater operational efficiency while reducing our exposure to risk. We are pleased with the deployment of the project and look forward to evolving our relationship with SunGard as a strategic technology vendor."

Juerg Hunziker, president of SunGard's Adaptiv business unit, commented, "FTN Financial was seeking a straight-through processing solution for its front-, middle- and back-office functions to better manage its OTC derivatatives activities. SunGard's Adaptiv 360 has successfully provided that solution, giving FTN Financial the breadth and depth of functionality to continue to expand its business. This successful implementation is yet another testament to SunGard's ability to meet and honour the service commitment it delivers to customers."

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