SunGard Wins Two Technology Mandates

SunGard has won two mandates, one from Belgian bank Crelan for reconciliations and another from Japanese brokerage Nissan Century Securities for trading and post-trade managed services.
By Jake Safane(2147484770)
SunGard has won two mandates, one from Belgian bank Crelan for reconciliations and another from Japanese brokerage Nissan Century Securities for trading and post-trade managed services.

Crelan, a cooperative bank that serves retail and corporate customers, has selected SunGard’s IntelliMatch Operational Control solution to automate the reconciliation of its cash, securities and confirmations.

“Banks today need to eliminate manual processes and replace outdated legacy systems to improve management of risk and back office efficiency. SunGard’s IntelliMatch Operational Control helps banks to streamline their enterprise reconciliations and achieve operational maturity through the growth, consolidation and optimization of their business processes,” says Jennifer Hanes, chief operating officer, SunGard’s IntelliMatch.

The solution will be implemented in Crelan’s headquarters in Brussels to support the bank’s back office, with users located in Brussels and Antwerp. IntelliMatch is replacing an existing third-party reconciliation tool used at Crelan as well as additional manual processes. By automating these processes, says SunGard, the bank can reduce costs, increase efficiency, and reduce risk.

“By working with SunGard we can use a single platform for the end-to-end automation of all reconciliations to support our core business. IntelliMatch Operational Control offers enterprise-wide reconciliation capabilities and comprehensive functionality along with an intuitive and flexible user interface which will help us manage our growing volume of transactions. SunGard’s expertise in implementing multi-asset class reconciliation solutions will help ensure we can minimize deployment timescales and achieve long term value from IntelliMatch Operational Control,” says Yves Danneels, chief information officer, Crelan Bank.

Meanwhile, Nissan Century Securities will deploy SunGard’s Valdi and Stream Clearvision as a managed service to support its Japanese equities, derivatives and commodities businesses.

Valdi is a suite of multi-asset trading solutions that provides access to trading venues globally, as well as offering services for areas such as market data and pre- and post-trade risk and compliance. SunGard’s Clearvision is a real-time middle-office trade matching, allocation and acceptance system for listed and cleared OTC derivatives.

By using SunGard’s tools, Nissan Century will be able to improve its efficiency, as the brokerage was restricted by manual order processing of post-trade give-up messages, thereby limiting the amount of order flow it could accept.

“Our ambitious development plan required us to look for a solution that could accept more give-up order flows and reduce manual processing time and errors. Integrating SunGard’s solutions and managed services together will help us automate our trading operations to increase capacity and accept more orders that helps us capture more client business. Furthermore, the ease of working with SunGard will help us lessen the burden for the provision and operations of our trading platform to drive more value from our own resources and lower our total cost of ownership,” says Yoshinobu Nakamura, executive director, head of global sales, Nissan Century Securities.

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