New York, NY – May 23, 2005 – SunGard (NYSE:SDS) announced today that Banc of America Securities (BAS) has selected SunGard’s referencePoint Managed Data Service, a managed service for generating pricing and reference data. SunGard will help BAS facilitate the collection, cleansing, formatting, enrichment, storage, management, support, and distribution of data to a variety of its downstream trading, order management, risk management, and back-office processing systems.
"We anticipate referencePoint Managed Data Service will help to accelerate our time to market at a lower cost, and will help to provide ongoing efficiency and scalability as more financial institutions adopt the referencePoint service," said Roseann Palmieri, managing director, data management for Banc of America Securities. "referencePoint will help us integrate data into our existing data management platform, delivering information to the front, middle and back office, including mark-to-market information and corporate actions updates."
"Partnering with SunGard to enhance the data in our processing systems leaves us well-positioned to further expand our business initiatives and we look forward to leveraging their expertise," said Steve Santini, managing director, Global Equities Technology at Banc of America Securities.
This follows SunGard’s October 2004 announcement of Banc of America Securities’ charter membership on the referencePoint advisory panel, which SunGard established to help drive the development of the managed data ervice.
"Our referencePoint Managed Data Service helps remove the burden of data acquisition and processing," said Dale Richards, president of SunGard’s enterprise data management unit. "referencePoint Managed Data Service will help financial institutions to reduce and more efficiently utilize the resources needed to maintain a reliable data management infrastructure."
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