Wayne, PA and London, UK (Vocus) September 9, 2008
Finvent S.A., a leading provider of software solutions for the investment management industry in Southern and Eastern Europe, Middle East and Africa, has chosen the SunGard Transaction Network (STN) as its preferred electronic trading and order routing network. Finvent's clients will be able to access STN and its global network to electronically execute and process financial transactions, helping to enhance the ability to meet client expectations and cost reduction goals through best execution of trades.
STN provides firms with reliable trade automation and connectivity to help them satisfy best execution requirements, minimize operational risk, meet client expectations and document best execution efforts, all while helping drive down the transactional cost of investing. The need for global trade automation continues to increase due to expanding choices of execution venues around the world as well as the industry-wide credit crisis, which is causing firms to seek automated solutions that help reduce the cost of execution and support alternative investment strategies.
"Finvent's FIP integration with the SunGard Transaction Network will provide our clients with direct access to STN's extensive, global broker-dealer community and help complete the straight-through processing procedure we offer to investment management clients for front-to-back-to-execution," said Makis Ioannou, chairman and managing director, Finvent S.A. "By utilizing STN, we can help our clients reduce cost and risk, while expanding their access to global markets in an automated environment. We selected STN because of its leadership position in this area, and because it provides the functionality we require. Its integration with Advent Software Inc., products that we exclusively represent in the region, was also important to us. STN's flexibility and the expertise in connecting institutions throughout the value chain were also significant considerations."
Bob Ward, chief operating officer of SunGard's wealth management business, said, "As the challenges of the credit crisis and liquidity fragmentation throughout the industry come into play, electronic trading is becoming more important globally as a means to help reduce risk and the cost of transactions. STN's integration with third-party systems such as Finvent's FIP helps to automate the entire transaction lifecycle. By working with Finvent, STN is able to extend its global reach, and leverage the local expertise of a well established organization."
Finvent S.A., established in 2001, provides best-of-breed, mission-critical solutions to organizations in Southern and Eastern Europe, Middle East and Africa. Its internationally renowned solutions are aimed both at global investment organizations and local firms while Finvent's experience and certified consulting know-how have shown to optimize efficiency and automation at client implementations, reduce risk and free managers to focus on what they do best. With more than 60 client firms in 14 countries, Finvent has established itself as a leading provider of trusted applications and related professional and custom engineering services.
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 many securities types, including U.S. and foreign equities, fixed income, mutual funds, money market funds, certificates of deposit, and commercial paper. Integrated directly with SunGard systems and with third-party systems, STN helps automate the entire transaction lifecycle.
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 http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo 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 Global Execution Services Limited.
SunGard Global Execution Services Limited * Registered in England and Wales No. 3127109 * Registered Office: 25 Canada Square, London E14 5LQ - Authorised and Regulated by the Financial Services Authority, No. 469919