FTN Financial Capital Markets, a bank dealer division of First Tennessee Bank NA, and FTN Financial Securities Corp, a wholly owned subsidiary of First Tennessee Bank, ("FTN Financial") have implemented SunGard's Stream Securities* suite of solutions to support their fixed income business.
The integrated solutions provide improved access to real-time information, helping reduce operational risk, increase efficiency and transparency, and support business growth.
Stream Securities provides a single platform for all of FTN Financial's fixed income securities processing, including real-time clearing and settlement and books and records. The firm is also leveraging Stream's messaging interfaces for clearing and settlement.
Bill Buck, senior vice president and operations manager, FTN Financial, said, "We selected SunGard because of its back-office technology knowledge and track record of reliability. SunGard's Stream Securities solution suite provides the automation and real-time capabilities that we require to help support the growth of our business."
John Grimaldi, executive vice president of SunGard's North American securities business unit, said, "The current economic conditions continue to put pressure on firms to control costs, even as they look for opportunities to grow. They are also facing multiple regulatory and internal requirements to better control risk. SunGard's Stream Securities helps automate critical back-office functions and increase efficiency and transparency."
*Stream Securities includes Stream Phase3, Stream Gateways, Stream Report Writer and Stream Fail Monitor.