NEW YORK, June 10, 2003? SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today unveiled its plans to deliver a suite of trading and risk management solutions on a single integrated architecture. The new framework will bring together functionality from several SunGard solutions in order to provide clients with a plug and play approach to customizing their solution according to their unique requirements. Using the new framework, financial institutions will benefit from lower implementation, upgrade and migration costs, and more comprehensive and efficient enterprise-wide risk management, trading and straight-through processing. Existing clients gain new functionality to meet industry and business requirements without the need for expensive system replacements while maximizing the return on their initial technology investment.
Don Wood, chief technology officer of SunGard Trading and Risk Systems, said, "This technology strategy is an evolutionary approach that uses existing building blocks (modules of code) to create a new framework for delivering solutions. First steps include providing clients with single presentation and security layers, incorporating eXtensible Markup Language (XML) standards and creating common market data objects. We are also delivering a library of common analytics and single trade representation. The ability to bring existing
SunGard Trading and Risk Systems products onto a single unified platform is facilitated by the underlying technology including the use of Intel architecture and Microsoft's .NET software environments to provide flexibility and scalability in development and implementation. Additionally, the use of XML as the technology for defining data, means that selected components can and will continue to interoperate seamlessly."
A key tenet of the Basel Accord is the focus on a holistic risk infrastructure for market, credit and operational risk management that supports data collection and consolidation. The new trading and risk technology framework enables clients to meet this requirement by leveraging their existing infrastructure where required and adding new risk components as needed.
SunGard will maintain a stringent eye on quality of the new framework, leveraging best practices within the Credient and Panorama solutions in achieving ISO9000:2 certification.
Jim Ashton, chief executive officer of SunGard Trading and Risk Systems, said, "Our clients and prospects have clearly indicated that they want to work with fewer vendors and to have integrated rather than silo-based solutions. They want to be able to reduce costs, achieve greater ROI, be in charge of their solution and use their technology to better serve their customers. Our new framework addresses these concerns and will help our clients to achieve these goals."