SunGard teams with Fist Global to push Front Arena in South Korea

Source: SunGard

SunGard, one of the world's leading software and IT services companies, and FIST Global, a Korean financial software company, have partnered to offer SunGard's solution for the capital markets, Front Arena, to local banks and securities houses in South Korea.

The partnership marks a milestone in SunGard's commitment to the Korean financial services industry.

SunGard's Front Arena supports the complete trade lifecycle from execution to settlement. It provides straight-through processing by integrating sales and trading execution and distribution functions with a position control infrastructure, desk-level risk management, as well as settlement, operations and accounting support. Through the partnership with FIST Global, SunGard will build up local resources to assist with delivery, training and customer support throughout South Korea.

Lawrence Kim, chief executive officer of FIST Global, commented: "The Korean financial services industry is poised to play a greater role in the regional financial landscape. Our partnership with SunGard demonstrates our entrepreneurial approach to offering the best solutions for our customers' trading and operational needs. We will now be able to leverage SunGard's Front Arena for execution and position control and deliver it locally using our in-country expertise."

Peter Banham, global head of strategy for SunGard's capital markets & investment banking business, said, "SunGard already has an established presence in Korea and a strong reputation for its financial systems solutions. Our partnership with FIST Global reinforces SunGard's commitment to and confidence in the Korean financial services industry. It will help us to integrate international expertise and products with dedicated local professional staff that will best serve the needs of our Korean customers."

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