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SunGard and Bolsa de Madrid link trading networks to provide equity order routing

London, April 2, 2002 – SunGard Financial Networks, an operating group of SunGard (NYSE:SDS), and Visual Trader Systems, the technology subsidiary of the Madrid Stock Exchange, have signed an agreement to develop an interface between the SunGard Transaction Network (STN), and Visual Trader, the Bolsa de Madrid network. This will allow equity orders and associated messages to be routed seamlessly between brokers and their counterparties on both networks. The agreement also allows each party to market the facility to their individual customers.

Jose Parga, Visual Trader Systems general manager, commented, "This is a major strategic project for us, reflecting the Bolsa’s commitment to providing its members and customers with a global service for trading securities. Our users will now have an additional method of routing trades to international markets and for receiving orders for the domestic market using their existing Visual Trader network. In choosing to do this development with SunGard we have found a very strong business partner, where both parties bring complementary values to the agreement. We expect to see an increase in trading volumes this year as the result of this initiative."

The SunGard Transaction Network (STN) is a connected community of financial services institutions, comprising SunGard customers and other market participants. It is a virtual network connecting the processes in the financial services marketplace, linking asset managers with brokers, brokers with exchanges, exchanges with banks, and banks with settlement agents and custodians. STN supports the key information flows in the trading lifecycle, including order routing, pricing, execution, allocations, affirmation and matching, notification, reconciliation and reporting. STN supports the cross-border information flows for equities, mutual funds, and fixed income securities.

Antonio J Zoido Martinez, chairman and chief executive officer of the Bolsa de Madrid, said, "It was important for us to be able to offer our members and their clients increased access to the world’s stock markets through a single, real-time interface. Given SunGard’s expertise and experience in implementing high-volume transaction networks we were confident that they could deliver the best solution. The Visual Trader Platform has proved very successful as a gateway to the global markets and we expect to see more and more domestic and international institutions using it to transact their global equities business."

The Visual Trader platform provides brokers with a single interface to access both the domestic market and major international stock exchanges. At present some 60 Spanish institutions use Visual Trader. Half of these are members of the Madrid exchange, but non-members can also place orders on any of the markets, via any one of the 108 brokers who currently have access to the Visual Trader platform. Through a single interface, more than 450 institutional investors connect to the global markets with order flows.

Paul Schneider, group chief executive officer, SunGard Financial Networks, commented, "We are excited about the opportunity to work with Bolsa de Madrid on this mutually beneficial initiative. Clearly, the U.S. presence of the SunGard Transaction Network is of significant benefit to the Bolsa de Madrid. And from a SunGard perspective, cooperation on this project reflects our strategic commitment to build a strong European presence."