SunGard Global Markets Integrates Global Trader with TrueCalc to Provide Enhanced Convertible Bond Trading

Calabasas, CA & New York, March 13, 2002 – SunGard Trading Systems, Global Markets an operating unit of SunGard (NYSE: SDS), today announced that it has integrated its Global Trader front-office sales and trading system for global fixed income and foreign exchange with SunGard’s TrueCalc solution for the pricing and analysis of convertible bonds. Integrating Global Trader with the TrueRisk analytic engine creates a solution that empowers traders with the information and technology to make intelligent market decisions quickly and efficiently.

Global Trader is a trading system that supports both the international bond and foreign exchange markets. TrueCalc is a leading multi-currency convertible bond analytic system. Integration of the two products provides complete trade support for fixed income trading and sales. Global Trader allows users the ability to offer securities, place and take orders, and connect to exchanges and pricing services, while TrueCalc provides analytics such as pricing, sensitivities, scenario analysis, implied volatilities and spreads, yields, and probabilities for all types of convertible bonds.

Jim Davis, president of SunGard Trading Systems, Global Markets, said, "Convertible issuance in 2001 topped the previous record, set in 2000, by more than 50%. By seamlessly integrating TrueCalc with Global Trader we can now offer robust support for this important growth market. In addition, the coupling offers Global Trader clients enhanced analytic functionality, including support for a broad universe of convertible structures and sophisticated modeling techniques."

Gerald Quinlan, PhD, director of TrueCalc development at SunGard Trading and Risk Systems, said, "Using TrueCalc within Global Trader gives convertible bond traders an integrated view of the risk and profitability of their entire portfolio. The complete solution offers our clients extended functionality for real-time portfolio and risk management for convertibles and the ability to execute convertible bond trades within the same system that they trade equities, options, and bonds."

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