SunGard’s STN Expands Across Europe
Wayne, PA and London - 25 March 2008
SunGard today announced that the SunGard Transaction Network’s (STN’s) trading and connectivity solutions are now available to corporate treasurers and asset managers in the United Kingdom, following STN’s recent approval by the Financial Services Authority (FSA). As an authorized U.K. broker, STN will exercise passporting rights, allowing the company to trade and conduct brokerage business in 30 European countries, bringing integration, automation and connectivity to the international trade lifecycle.
“Globalization is becoming a key component to the strategies of many financial services firms,” said Bob Ward, chief operating officer of SunGard’s wealth management business. “Both in the U.S. and internationally, STN solutions help institutional investors better manage trade execution and processing requirements, while helping to increase productivity, reduce processing costs and minimize operational risk.”
STN Securities and the STN Money Markets portal are the first of STN’s trading and connectivity solutions to be introduced throughout Europe. Leveraging its core design and ability to reach more than 500 global trading destinations, STN Securities electronically connects asset managers to a global array of liquidity providers through a single platform. STN Securities supports the industry standard FIX protocol, as well as other message types, including S.W.I.F.T. and proprietary message formats.
The STN Money Markets portal, currently one of the largest, fully disclosed, independent portals in the United States, provides multinational corporate treasurers with a central platform to diversify their short-term investments and to help mitigate currency risk – all while providing access to 240 multicurrency money funds through a single connection.
Supporting STN’s expansion in Europe is a complete regional data center and recovery infrastructure, and professionals located in the UK to manage and support STN’s growing list of trading destinations.