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SunGard appoints Engelbrecht, Emea sales director for Compass; upgrades InTrader

12 July 2005  |  1410 views  |  0 Source: SunGard

SunGard today announced the appointment of John Engelbrecht as sales director - Europe, Middle East and Africa, for SunGard COMPASS, an integrated pension, annuity and group insurance administration system.

SunGard is a leading global provider of financial and insurance software solutions for both the individual and employee benefits industries.

Mr. Engelbrecht, based in the City of London, will be responsible for SunGard COMPASS sales operations and initiatives in the region. Before joining SunGard, Mr. Engelbrecht was responsible for sales and business development at AFA Systems, an application software provider to the financial services industry. Previously Mr. Engelbrecht held a number of senior sales management positions internationally, including IBM and SAP.

Separately, SunGard (NYSE:SDS) announced today that it has released version 10.0 of itsversion 10.0 of its InTrader fixed income processing solution. InTrader 10.0 includes new multi-currency processing, money market amortization and non-business day accrual option capabilities, as well as enhanced interest rate indexing.

"InTrader 10.0 is one of the system's most significant releases designed to provide a wider range of processing capabilities and efficiencies that are more integrated with the global marketplace," said Herb Hesch, president of SunGard's InTrader business unit. "SunGard continues to invest in the InTrader solution and develop enhancements to help help meet the business goals and processing needs of its customers."

Developed as a result of customer focus group activities, InTrader’s new multi-currency capability processes non-U.S. dollar denominated fixed income securities, including all instrument and portfolio types supported by InTrader such as single-currency repurchase agreements. InTrader 10.0 also includes improved accounting of brokered money market instruments, such as commercial paper and certificates of deposit, by supporting the issuance of instruments at prices other than par to allow for the proper amortization or accretion of the discount or premium.

InTrader’s new non-business day accrual option allows customers to perform one-time definitions for the ongoing default behavior of future interest events that occur on non-business days, for an unlimited time period and at the security or issuance level, thereby eliminating the need to continuously define numerous irregular interest schedules over time. The enhanced interest rate indexing feature offers more flexible and simpler instrument maintenance by providing an automated "one to many" relationship between the securities or issuances to an index, which helps to reduce errors associated with manual updating. It also allows for complex rate computations using a formula interpreter.

Other InTrader 10.0 enhancements help improvehelp improve efficiencies for safekeeping processing and billing, security maintenance, correspondent processing, and reporting.

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