SunGard today announced that Barclays Global Investors Limited's (BGI's) US dollar-, Pound sterling- and Euro- denominated money market funds are available on the SunGard Transaction Network's (STN's) Money Market portal. The addition of BGI funds provides STN customers with the ability to select from a broader range of products, helping them to further diversify their portfolios.
STN Money Markets provides a single connection to help global short-term cash investors, including corporate treasurers, hedge funds and government entities, to compare, analyze, trade and report on enhanced cash, commercial paper and more than 220 money market funds denominated in multiple currencies. The STN Money Market portal also helps accounting, compliance and audit teams to monitor trades and track and report on outstanding holdings, at no cost to investors.
Through its direct and fully disclosed trading model, STN also helps customers retain their relationships with fund providers such as BGI. By offering access to a wider group of investment options and simplifying daily processing requirements, STN gives its customers the tools to help diversify their investment holdings, increase operational efficiencies, reduce costs and mitigate trade-related risk.
James Finch, head of liquidity sales, BGI UK/Europe, said, "We are pleased to offer BGI's range of international cash funds through the SunGard Transaction Network, thereby extending our global distribution and providing hundreds of STN customers with greater diversity when selecting short-term cash vehicles that meet their investment criteria."
"Our customers rely on STN to provide them with a single point of access and automated trading with multiple investment providers and fund offerings," said Bob Ward, chief operating officer at SunGard's STN business unit. "Through the addition of BGI's international money market funds, we are providing investors with the opportunity to broaden their short-term cash investments, without increasing the manual processes traditionally associated with managing direct relationships with multiple fund providers."