(Vocus) July 15, 2010
Absa Capital, the investment banking division of Absa Bank Limited (Absa), and a leading South African investment bank affiliated with Barclays Capital, has upgraded to the latest release of SunGard’s Front Arena global capital markets solution. Front Arena provides position control across multiple asset classes and business lines, providing Absa Capital with a consolidated cross-asset platform to manage its increasing trading volumes. The upgrade brings trading enhancements that help to ensure rapid time to market and increased transparency across all trading and sales activities.
Absa Capital required a solution able to handle the growth in its trading activities, driven by an already significant increase in its trading volumes. A customer of Front Arena’s for the past 12 years, Absa Capital will address this growth by using features from Front Arena’s latest release to build onto its existing trading system. The upgrade will help Absa Capital gain increased transparency throughout the trading and sales lifecycle, while also helping ensure pre-determined operational and desk level risk controls are adhered to across all books and products. In addition, Front Arena provides the firm with complete cross-asset coverage in a single system, which helps facilitate reporting and integration with other areas of the bank.
Ian Kriegler, chief information officer at Absa Capital, comments, “To support our growth strategy it was important for us to establish a stable and resilient trading environment. Front Arena’s track record within Absa Capital and its ability to grow with our needs, if and when required, made it a best fit. The Front Arena upgrade also supports our initiative to streamline our operations and increase accuracy and consistency throughout the trading lifecycle.”
Juerg Hunziker, president of SunGard’s Front Arena and Adaptiv business units, said, “By providing Absa Capital with a complete position control infrastructure, Front Arena can be configured to meet changes to Absa’s business workflow. As a result, Absa Capital has a technology solution that can grow and evolve to meet its future requirements.”
About Absa Capital
Absa Capital, a division of Absa Bank Limited (Absa) and affiliated to Barclays Capital, is a leading South African investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.
About Front Arena
SunGard's Front Arena is a global capital markets solution that delivers position control across multiple asset classes and business lines. Integrating sales and distribution, trading and risk management, and settlement and accounting, Front Arena helps capital markets businesses around the world improve performance, transparency and automation. Find out more at http://www.sungard.com/frontarena.
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. For more information, visit http://www.sungard.com
Trademark Information: SunGard, the SunGard logo and Front 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.