SunGard Launches Cliq, a SaaS Solution for Derivatives Post-Trade Processing

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SunGard has launched Cliq, a Web-based service that provides standardized electronic communication and collaboration between buy- and sell-side financial institutions involved in global, post-trade processing of listed derivatives.

Gerry Murphy

SunGard has launched Cliq, a Web-based service that provides standardized electronic communication and collaboration between buy- and sell-side financial institutions involved in global, post-trade processing of listed derivatives. Cliq provides a single point of entry for a variety of activities, including account set-up and allocations to help buy-and sell-side firms track, prioritize and manage operations across listed derivatives, futures and options globally. Its business process management and business activity monitoring capabilities help firms automate transaction flow and manage workloads according to a firm’s priorities, facilitating improved risk management.

Gerry Murphy, president of SunGard’s brokerage and clearance business, said, “Global, post-trade derivatives processing continues to be manual, inefficient and costly. With Cliq, SunGard is building on its experience in the derivatives industry and in automating the transaction lifecycle. Cliq’s automation of listed derivatives processing will help buy-side firms achieve greater control of their activities, and help sell-side firms streamline their operational processes.”

Cliq addresses the following challenges and trends in the derivatives industry:

  •     Firms require greater transparency and real-time information to understand their counterparty risk. In the exchange-traded derivatives world, it is very common for the end-user to have multiple clearing relationships, making it difficult to quickly understand enterprise-wide exposure.
  •     More efficiency is required in the listed derivatives clearing process, which is increasingly complex and opaque due to the rise in volumes, greater global activity, and more asset classes.
  •     The network of participants in exchange-traded derivatives is growing: the buy-side has more trading counterparties, the sell-side is adding counterparties, and more sophisticated institutional players are entering the market, including pension plans and hedge funds.

Stephen Bruel, research director, Securities and Markets, at research and advisory firm TowerGroup, said, “Because a great deal of money and relationships are at stake in the listed derivatives industry today, both the buy-side and sell-side need an electronic and standardized way of communicating various operational processes such as reconciliations, allocations and settlement. Automation will help firms reduce operational risk, control costs, and increase transparency around exposures as well as the current state of all transactions across all counterparties.”

  • SunGard Financial Systems is pursuing a visionary initiative to transform some of the key functionality of its core systems into components to form a new software development and on-demand delivery environment called Infinity. Infinity enables financial institutions to develop and deploy custom applications, integrating SunGard components with their own proprietary or third party components. Infinity uses SunGard's Common Services Architecture (CSA), a service-oriented architecture (SOA) development framework, offering business process management (BPM) and a virtualized, software-as-a-service (SaaS) infrastructure.

About SunGard’s Cliq
Cliq is a business activity monitoring and business process management service connecting financial institutions involved in the post-trade lifecycle. Cliq provides a single point of entry for post-trade activities to help buy- and sell-side firms track, prioritize and manage operations across listed derivatives, futures and options globally. Cliq automates transactions between participants, highlights exceptions, and expedites post-trade processing instructions. As a result, Cliq helps buy-side firms achieve greater control of their activities, and helps sell-side firms streamline their operational processes and reduce their counterparty exposure.

About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher 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 exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.

Trademark Information: SunGard, the SunGard logo and Infinity 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.

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