SunGard has launched a solution for international fund trading, expanding the capabilities of the SunGard Global Network (SGN) Funds solution, to help fund companies and transfer agents broaden and streamline the processing and distribution of funds globally. The SGN global fund trading solution helps fund companies and transfer agents around the world automate their trade processing and access funds processing platforms such as National Securities Clearing Corporation’s (NSCC) automated and centralized funds processing platform, Fund/SERV, a mutual fund industry standard for end-to-end transaction processing.
Connectivity across borders creates technical and operational challenges, making international fund trading inefficient and costly. The solution leverages SunGard’s years of experience supporting funds through SunGard’s Asset Arena Transfer Agency platform to help fund companies and transfer agents improve efficiency and cost-effectiveness, globally. SGN Funds provides fund companies with direct access to Fund/SERV’s proprietary messages to obtain trades, create confirms, receive trade data and manage clearing and settlement.
SGN provides an ASP front-end and standard record layouts, as well as support for custom file formats as required, helping to further reduce technology and operational challenges and time to market. The ability to provide existing Fund/SERV customers with access to a broader selection of offshore funds is also now available through the SGN Funds global solution.
Bob Ward, chief operating officer, advisor and transaction services for SunGard’s wealth management business, said, “SGN Funds will help international fund companies reduce the manual effort of mutual fund trading by providing broader and more comprehensive trading services. By connecting to NSCC’s Fund/SERV platform, SGN Funds will help provide quick access to a full range of services, eliminate proprietary technology development, and offer one of the fastest go-to-market solutions available for fund companies.”
NSCC is a subsidiary of The Depository Trust & Clearing Corporation (DTCC). SunGard and DTCC are separate, non-affiliated entities.