NEW YORK, NY - June 16, 2003 - SunGard Securities Processing, an operating group of SunGard (NYSE:SDS), announced today that it has joined the Omgeo STP Partners program, and plans to develop real-time interfaces between SunGardâs Phase3 securities processing solution and the Omgeo ALERT global database for settlement and account instructions and the Omgeo OASYS U.S. trade allocation and acceptance service.
"The Phase3-Omgeo partnership is a significant development in providing our mutual customers with added flexibility and improved STP, reinforcing our focus on improving operational efficiencies and eliminating redundant processes," said Gerard Murphy, president of SunGard Securities Processingâs Phase3 unit. "Our objective is to develop synergies between our core competencies and those of other technology providers to meet a broader range of customer needs and to pass on the highest level of service and value to our customers. Our focus on the customer will lay the groundwork for seamless integration with other allocation messaging services and settlement instruction data providers."
The real-time interfaces will help Phase3 customers to improve straight-through processing (STP) by avoiding the need to use separate OASYS terminals, and providing an automatic trade enrichment feature. The interfaces ensure that information entered into OASYS is automatically updated in Phase3 in real-time, and name and address instructions are managed seamlessly between Phase3 and ALERT. Phase3âs real-time trade enrichment feature automatically sets up new accounts and books trade allocations in Phase3 without trade rejection or any customer intervention. For example, if Phase3 receives a trade allocation from OASYS for an account that is not currently set up in Phase3, rather than reject the trade, Phase3 will automatically prompt ALERT for the new account information, open a new account on Phase3, then book the trade automatically in real-time.
The connectivity between Phase3, OASYS, and ALERT will be transparent to the user because the systems will all share a common user interface based on Phase3âs new graphical user interface. Phase3âs real-time interfaces with ALERT and OASYS will support fixed income instruments, listed and over-the-counter (OTC) equities, and equity options. The Phase3-Omgeo interfaces will be available in the third quarter of 2003.