Sierra helps Velocity manage its clients' position and margin requirements for a wide variety of FX instruments. Delivered on an application service provider (ASP) basis, Sierra was implemented using the solution's quick start implementation program. This allowed Velocity to go live on the system and produce customer statements in one week.

In order to effectively service its clients and manage their growing trade volume, Velocity needed to replace its traditional manual, spreadsheet methods of managing cash and clients with a sophisticated FX cash system and effective client margin management solution. By using SunGard's Sierra, Velocity now has a consolidated view of all its positions and is able to facilitate and automate margin management and back-office processing. Sierra helps to speed up processing and reduce the risk of operational error as all activity is managed on one solution. This also helps Velocity's clients to accelerate their time to market and ensure accuracy of information.

Rodolfo Ledesma, head of trading at Velocity Trade, said, "SunGard's Sierra meets our FX trading requirements with market connectivity and robust functionality that can flex to meet our growing needs. SunGard was able to meet our aggressive timeline for installation and we are pleased with the way in which the project was run. Sierra's back-office functionality helped us to streamline our operations, and the real-time front-office tools it offers provide the information to help us assess and manage risk effectively."

Jim Dennelly, senior vice president for Sierra at SunGard's capital markets and investment banking business, commented, "SunGard's Sierra quick start implementation program helps customers to select a new solution and access the market quickly. Having an expert team able to understand the needs of our customers combined with a proven solution makes this possible. We build solid relationships with our customers by providing tng them with Sierra via ASP -helping them reduce their IT costs without compromising the efficiency of their operations."