Paris (PRWEB) September 27, 2011
SunGard has enhanced its suite of middle- and back-office derivatives solutions to support the clearing of Eurodollar and U.S. Treasury Futures via New York Portfolio Clearing, LLC (NYPC), a derivatives clearinghouse and joint venture between The Depository Trust & Clearing Corporation (DTCC) and NYSE EURONEXT.
Member firms can use SunGard’s Stream Derivatives solutions - Stream Clearvision, Stream GMI and Stream Ubix - to register and manage positions of NYPC’s listed interest rate futures. In addition, Stream GMI and Stream Ubix now support London SPAN-based margin calculations on NYPC-cleared futures and options based on risk arrays provided by NYPC.
Walter Lukken, chief executive officer of NYPC, said, “Regulatory reform is driving much change in the derivatives industry. Being able to offer middle- and back-office support via SunGard’s Stream solutions will help us offer our members a way to capitalize on these changes through a reliable, efficient and accurate means to manage the processing of listed interest rate futures and support risk-based margins.”
Laurent Jacquemin, global head of post-trade services for SunGard’s capital markets business, said, “SunGard continues to innovate as the derivatives industry evolves and new entities are launched. This strategy includes providing access to the latest platforms, products and technologies, such as the new cleared interest rate swap marketplace, to help our customers continue to grow their businesses efficiently and securely.”
New York Portfolio Clearing, LLC (“NYPC”) is a joint venture derivatives clearinghouse owned equally by NYSE Euronext and The Depository Trust & Clearing Corporation (“DTCC”) that clears interest rate futures contracts and cross-margin eligible positions against U.S. Treasury and agency securities and repurchase agreements cleared by DTCC’s subsidiary, Fixed Income Clearing Corporation. Utilizing a uniform risk methodology across clearinghouses, this “one-pot” cross-margining arrangement provides increased margin and operational efficiencies for market participants.
About SunGard’s Stream
SunGard's Stream is a suite of global, post-trade solutions for securities and derivatives. It is used in securities and financial markets firms to run their middle- and back-office operations. It also provides outsourcing of exchange and clearing interfaces and U.S. tax processing services. Stream helps financial services firms increase transparency, improve efficiency, track their activities and manage risk and exposure in real-time. For more information, please visit http://www.sungard.com/streamforposttrade.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves more than 25,000 customers in more than 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 of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, please visit http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo, Stream GMI, Stream Ubix and Stream Clearvision 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.