Knightâs selection of Apex aligns with the firmâs clearing, securities lending and repo initiatives. Knight began using SunGardâs Loanet operations solution suite and Smart Loan front-office system for its US domestic stock loan business in 2009. With the addition of Knightâs international securities lending and repo business, the company required a real-time multi-product position management capability as well as a new platform for its fixed income repo desk. Using Apex with the SWIFT interface module, Knight will be able to process its fixed income repo and international stock loan business on a single platform.
Keith Babbitt, managing director and head of Global Securities Finance at Knight Clearing Services, said, âSunGardâs Apex will help us grow the business without system or cost constraints. The systemâs robust functionality and scalability will give us the ability to use one consolidated platform to view and manage our securities lending and repo business operations, with the flexibility to evolve the platform to meet our changing business needs and requirements.â
Brian Traquair, president of SunGardâs capital markets and investment bankingbusiness, said, âTo excel in the securities finance business, firms like Knight need to be able to streamline the full operational lifecycle of processing multiple securities finance transactions. SunGardâs Apex provides front-, middle-, and back-office processing of transactions, from securities borrowing and lendingto positions management, trading and repo, while providing a holistic view across multiple business entities, currencies and products.â