SunGard Futures Systems, an operating unit of SunGard, announced today that it has fulfilled system requirements to process and clear Nasdaq Liffe Markets LLC (NQLX) single stock futures on SunGard’s GMI system. GMI is a leading back-office clearing and accounting software solution used by futures commission merchants (FCMs), banks and brokerage firms. With this new capability, SunGard customers will be able to trade NQLX single stock futures immediately upon NQLX’s launch, expected in the fall of 2002.
Bill Boyk, executive vice president, market operations at NQLX, said, “A major factor in NQLX’s ability to be the premier exchange for single stock futures is the provision and integration of best of breed technologies through both our own infrastructures and key vendor partnerships. SunGard’s long and reputable standing in the futures industry, ongoing dedication to our needs, and the fact that a large number of our member firms use GMI, will help ensure thorough support for our firms and position us well for a successful launch.”
“Having worked with NQLX since December 2000, we greatly value our relationship and look forward to future cooperation to support member firms as the market grows and evolves,” said Steve Auerbach, chief operating officer of SunGard Futures Systems. “Together, SunGard and NQLX will provide firms with a robust and economical solution utilizing existing and proven systems.”