SunGard’s Asset Arena Launches New SWIFT Connectivity Capability
September 16, 2008 — Vienna, Austria
SunGard has announced the launch of a new SWIFT capability for its Asset Arena Investment Accounting system (www.sungard.com/assetarena). The solution integrates the SunGard Transaction Network (www.sungard.com/stn) STN for SWIFT connectivity into Asset Arena and is designed to help Asset Arena customers adopt globally recognized messaging standards and leverage a shared-service SWIFT infrastructure.
Customers can take advantage of SWIFT connectivity through a module of the Asset Arena Investment Accounting system, which is offered on an ASP basis and consolidates messaging and investment accounting across one platform. The module centralizes operational processes, helping customers to increase operational efficiencies without increasing hardware, software or in-house staff costs. It also helps investment managers and third-party administrators to reduce transaction costs, increase security and gain broader access to custodians, banks, broker/dealers and others using SWIFT.
“We are very supportive of SunGard’s efforts to promote fund accounting automation by combining its investment accounting offering with its SWIFT connectivity solution,” said Dennis Goodenough, senior manager of securities initiatives for SWIFT Americas. “It has long been a goal of the SWIFT community to promote the adoption of standards and practices that help increase straight-through processing rates and reduce risk. SunGard’s investment accounting expertise, combined with the power of SWIFT, represents a positive step forward in improving operational efficiencies and automation between counterparties.”
Doug Morgan, president of SunGard’s institutional asset management business, commented: “SunGard is continually working to extend the value that Asset Arena can deliver to our customers. Backed by the experience, expertise and innovative technology of SunGard and SWIFT, this latest offering provides more options for our institutional asset management customers to help consolidate processes and improve the way they do business.”
About SunGard Transaction Network
A trade automation, compliance and connectivity solution, the SunGard Transaction Network (STN) links institutions throughout the financial services value chain, facilitating the purchase and sale of multiple asset classes, including U.S. and foreign equities, fixed income, mutual funds, money market funds, enhanced cash, and commercial paper. Integrated directly with SunGard systems and with third-party systems, STN helps automate the entire transaction lifecycle.
About Asset Arena Investment Accounting
SunGard Asset Arena Investment Accounting is one of the industry's most trusted investment accounting solutions. Asset Arena Investment Accounting helps meet the needs of a range of global financial institutions, including many of the world's largest banks and financial services companies. A real-time, multicurrency system supporting straight-through processing, Asset Arena Investment Accounting helps organizations account for virtually any kind of security held in nearly any kind of fund—from hedge funds and funds of funds to pension funds, mutual funds, bank commingled funds, offshore trusts, and more specialized funds. For more information visit www.sungard.com/assetarena.
With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo, Asset Arena and STN are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
"STN trade automation and connectivity services are provided by SunGard Institutional Brokerage Inc., Member FINRA/SIPC"