SunGard Launches Protegent Compensation, a Compensation Processing and Risk Management Solution for Brokerage Firms

New York, NY - 21 June 2010

SunGard has launched Protegent Compensation, a solution that supports the compensation processing and compliance risk management functions for sell-side retail and institutional brokerage firms. Protegent Compensation helps broker-dealers reduce operational risk and increase the accuracy of how they administer payments to their representatives. It is integrated with SunGard’s Protegent Surveillance and Protegent Customer Onboard, providing a comprehensive solution for regulatory risk and compliance management.

Broker-dealers may be exposed to regulatory fines and censures as a result of unsuitable representative and customer activity. In many cases, a firm’s compensation pay-out process can reduce its exposure to operational and regulatory risk. Protegent Compensation automates commission processes to help mitigate cash-flow risk. It also helps reduce manual intervention and increase pay-out accuracy. With Protegent Compensation, brokerage firms can leverage a broad array of compensation rules, which includes fees, loans, draws, expenses, holds, splits, bonuses, garnishments and advances. Its rule sets support all asset classes, business models and pay cycles.

Jim Dresselaers, executive vice president and chief operating officer, H. Beck, Inc., said, “SunGard’s new compensation processing solution will help us improve our payout administration and reduce our risk exposure. Using SunGard’s Protegent for commissions processing, new account opening and compliance surveillance will help us reduce operational costs while demonstrating a proactive culture of compliance.”

Raj Mahajan, president of SunGard’s trading business, said, “Protegent Compensation will help sell-side brokerage firms grow their businesses by helping them introduce new products and attract and retain talented representatives through the effective management of commissions pay-out processes and compliance risk. The introduction of Protegent Compensation to SunGard’s suite of compliance and risk solutions will help our customers further increase efficiencies and transparency in these areas.”

SunGard’s Protegent Compensation serves the broker-dealer community and complements SunGard’s iWorks EIM solution which supports the compensation management needs of insurance carriers in the life, health, and P&C industries.

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