SunGard adds AutoBorrow interface to Global One

Source: SunGard

SunGard today announced that it has launched a new AutoBorrow Interface Service for its Global One multi-currency international securities lending system for brokers and lenders.

The AutoBorrow Interface Service helps increase the exposure of lenders' securities to a wider range of borrowers by providing a fast, cost effective route to various securities lending, trading and order routing systems globally, while processing trades through the Global One system in a straight-through environment.

Craig Costigan, executive vice president and general manager of SunGard's Global One solution, said, "With reducing margins, lenders need to increase volumes in order to maintain revenues, which is driving a greater need for trading efficiencies and automation in the processing of 'general collateral' business. Global One AutoBorrow helps lenders meet these challenges and fulfill the needs of borrowers by interfacing, in a fast and cost-effective manner, to a broad range of services that provide lenders with maximum exposure, and borrowers with access to a wider scope of securities. Global One AutoBorrow alleviates the need for lenders to develop their own complex and costly interfaces to each system."

Global One AutoBorrow receives orders, accepts or rejects those orders, checks availability of securities, tracks credit limits, performs automated allocation and trade enrichment, and sends a confirmation back to the borrower. The AutoBorrow service provides straight-through processing by eliminating user intervention in the order process and by automatically creating and updating trades in the Global One system. It provides visibility of order batches, individual orders and resulting Global One trade details.

"SunGard's approach is to provide core building blocks and interfaces with numerous access points that also provide the flexibility to tailor services specific to each customer's requirements," said Mr. Costigan. "Our goal is to become a de facto standard for bringing global lenders and borrowers together in a more efficient and cost effective manner."

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