11 December 2017
visit www.solutions.lexisnexis.com

BBVA Securities extends SunGard securities processing deal

28 January 2008  |  2726 views  |  0 Source: SunGard

SunGard today announced that BBVA Securities, the U.S. broker-dealer of BBVA S.A. headquartered in Madrid, Spain, has committed to continue its use of SunGard's Phase3 multi-asset, multi-currency securities processing solution in a multi-year agreement.

BBVA uses Phase3 for processing equities, fixed income and foreign exchange trades in an application service provider (ASP) environment, integrated with SunGard's STN Settlements, a central interface management solution for securities clearance and settlement.

BBVA has relied on SunGard's Phase3 as its core securities processing system since 1996, and uses the system in its operations, risk, finance and front-office areas across several U.S. and international locations. Going forward, BBVA is looking to leverage Phase3's strengths in single platform, cross-asset processing to consolidate multiple business lines. This will help provide BBVA with a more flexible, holistic view of clients and profitability across businesses, while helping the firm enhance cost savings and processing efficiencies.

Pino Vallejo, managing director of BBVA Securities Inc., said, "As our business grows and we enter new markets, we look to SunGard to help us gain synergies by consolidating and streamlining our operations across the Americas. This will help our institutional clients more easily leverage BBVA to access new markets, as well as gain advantages of quick execution, confirmation and sound delivery. The ability to tap into the entire range of SunGard's financial solutions provides us with a unique advantage, and opens the door to money markets and banking activities on a more integrated, global scale."

Gerard Murphy, president of SunGard's brokerage and clearance business, said, "SunGard's strength in consolidating securities processing, clearance and settlement across various asset classes via its Phase3 platform, and the platform's ability to connect with other solutions, is key to helping firms capitalize on holistic views of information. By providing BBVA with access to a single source of aggregate client information and activity across the enterprise, SunGard will help the firm gain efficiencies, reduce costs and expand business opportunities internationally."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.solutions.lexisnexis.comvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18529 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11428 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
7870 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6660 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6094 views comments | 19 tweets | 10 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job