SunGard is going global with a new fund servicing solution.
SunGard Global Network (SGN) Funds solution will offer mutual fund companies a more streamlined approach to international distribution and processing.
Bob Ward, chief operating officer, advisor and transaction services for SunGard’s wealth management business, stated that SGN Funds will give fund companies direct access to Fund/SERV’s proprietary messages to obtain trades, create confirms, receive trade data and manage clearing and settlement.
Ward added that the service will help reduce the manual effort of mutual fund trading expended by international fund companies.
"By connecting to NSCC’s Fund/SERV platform, SGN Funds will help provide quick access to a full range of services, eliminate proprietary technology development, and offer one of the fastest go-to-market solutions available for fund companies," stated Ward.
Company Press Release
New York – June 6, 2012 – SunGard has launched a solution for international fund trading, expanding the capabilities of the SunGard Global Network (SGN) Funds solution, to help fund companies and transfer agents broaden and streamline the processing and distribution of funds globally. The SGN global fund trading solution helps fund companies and transfer agents around the world automate their trade processing and access funds processing platforms such as National Securities Clearing Corporation’s (NSCC) automated and centralized funds processing platform, Fund/SERV, a mutual fund industry standard for end-to-end transaction processing.
Connectivity across borders creates technical and operational challenges, making international fund trading inefficient and costly. The solution leverages SunGard’s years of experience supporting funds through SunGard’s Asset Arena Transfer Agency platform to help fund companies and transfer agents improve efficiency and cost-effectiveness, globally. SGN Funds provides fund companies with direct access to Fund/SERV’s proprietary messages to obtain trades, create confirms, receive trade data and manage clearing and settlement.
SGN provides an ASP front-end and standard record layouts, as well as support for custom file formats as required, helping to further reduce technology and operational challenges and time to market. The ability to provide existing Fund/SERV customers with access to a broader selection of offshore funds is also now available through the SGN Funds global solution.
Bob Ward, chief operating officer, advisor and transaction services for SunGard’s wealth management business, said, “SGN Funds will help international fund companies reduce the manual effort of mutual fund trading by providing broader and more comprehensive trading services. By connecting to NSCC’s Fund/SERV platform, SGN Funds will help provide quick access to a full range of services, eliminate proprietary technology development, and offer one of the fastest go-to-market solutions available for fund companies.”
NSCC is a subsidiary of The Depository Trust & Clearing Corporation (DTCC). SunGard and DTCC are separate, non-affiliated entities.
About the SunGard Global Network (SGN)
A trade automation and connectivity solution, the SunGard Global Network links institutions throughout the financial services value chain, offering services for equities, fixed income, listed derivatives, mutual funds, money market funds and other cash equivalents. SGN helps automate the entire trade lifecycle, from order execution through to post-trade processing. It facilitates trading on over 120 markets worldwide and links more than 2,000 asset managers with over 530 brokers, as well as interconnecting with major third-party order-routing networks. SGN’s international connectivity hubs also support low-latency market data delivery from global markets.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company and was ranked 480 on the Fortune 500. Look for us wherever the mission is critical. For more information, visit www.sungard.com.
SGN Brokerage Services offered in the United States and Canada are provided by SunGard Institutional Brokerage Inc., Member FINRA/SIPC
SGN Brokerage Services offered throughout Europe, the Middle East, Africa and Asia Pacific are provided by SunGard Global Execution Services Limited which is authorised and regulated by the Financial Services Authority, No. 469919 • Incorporated and registered in England and Wales No. 3127109 • Registered Office: 25 Canada Square, London E14 5LQ.
SunGard Global Execution Services Limited (ARBN No. 132 508 742) is exempted from licensing under Australia Securities & Investments Commission Class Order 03/1099 and is regulated by the Financial Services Authority under UK laws, which differ from Australian laws.
Trademark Information: SunGard, the SunGard logo, the SunGard Global Network and Asset Arena 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.