Stockholm, August 30th, 2004 - Front Capital Systems, an operating unit of SunGard (NYSE:SDS), announced today that The City of Johannesburg Metropolitan Municipality (CJMM), South Africa, will roll out FRONT ARENA across its treasury division from front- to back-office.
FRONT ARENA's coverage of fixed income, credit derivatives, equity, FX and money markets instruments, coupled with consolidated risk management functionality, P&L and real-time risk management, will help CJMM to price and hedge consistently across an expanded product base.
"We needed a top treasury platform to help us launch new products or asset classes--our latest R2 billion bond issues, for example," said Jason Ngobeni, city treasurer at CJMM. "Front Arena's ability to accommodate our ever-evolving business strategy and operational requirements is the reason we picked it."
The system will also help the corporation gain tighter controls over its trading and credit exposure and to implement best-practice business processes from confirmations through settlement and postings to the general ledger.
"I'm delighted to welcome CJMM as a new customer," said Tim Green, regional manager, Front Capital Systems. "This is another example of FRONT ARENA's proven strength, which lies in an infrastructure that is both scalable and flexible, helping it to support all types of business."