SunGard has launched Stream Fail Monitor, a new real-time solution to help firms proactively manage fails and exposures more quickly and efficiently.
Stream Fail Monitor tracks the securities settlement lifecycle to help users identify and track different types of fail events and quickly manage settlements throughout the day. It also helps firms to manage Treasury Market Practices Group (TMPG) commitments by creating claim letters and accruals on Treasury fails and properly tracking receivables and payables, and may help to reduce fails through the process of consolidating, identifying and netting fails.
The failure of securities transactions to settle on time can cost a single firm thousands or millions of dollars each year. Complementing any back-office securities processing application, Stream Fail Monitor automates the various disjointed and manual procedures of managing fails and extends the use of operations data to help firms improve straight-through processing. In addition, it alerts users to fail exceptions automatically, thereby eliminating the need for custom fail reports and printouts.
Gerry Murphy, president of SunGard's brokerage and clearance business, said, "The need for firms to reduce costs and errors throughout the settlement process is increasingly imperative. Stream Fail Monitor delivers information on exceptions as they occur, allowing users to organize, prioritize and navigate their work to help reduce the time and mistakes involved in resolving exceptions and completing tasks. Stream Fail Monitor also helps firms to generate the documentation needed to efficiently bill counterparties and keep track of outstanding claims."
A browser-based tool, Stream Fail Monitor uses a dynamic user interface that helps the user access, process and take multiple business actions on open fails. The solution helps users manage today's settlements; manage actual fails; measure fail exposure by CUSIP and counterparty; create fail accruals, receivables and payables; and create and track counterparty claims.