"With daily comparison rates of more than 99% in our U.S. Domestic Comparison service, Loanet.Net International Compare promises great strides forward in the international market," said Brian Traquair, president of SunGardâs Loanet business unit. "Loanet.Net International Compare helps capture, compare and correct errors in real-time, helping to reduce market exposure and monthly billing differences, which helps translate into cost savings for our customers. SunGardâs 20 years of successfully delivering books and records solutions to the U.S. securities finance community, continuously setting standards for comparison, and connecting more than 400 customers globally, makes us uniquely positioned to extend our proven Loanet.Net service to the international community."
Loanet.Net extracts data from the customerâs core equity finance recordkeeping applications for comparison, provides Web-based exception review and real-time correction, and processes the appropriate adjustments in the core applications. The Loanet.Net International Compare service helps users to take ownership of differences while communicating with contra parties for faster resolution, and integrates seamlessly with SunGardâs Global One, Martini, WorldLend, and Loanet solutions.
Loanet.Net International Compare is the first of several new services SunGard plans to deliver for the international securities finance community throughout 2005. These new services include International Non-Cash Marks, Billing Compare (Multi-Market), Recalls (ARM), and Repo Compare for the middle/back office, and International Order Routing for the front office.