Monterrey, Mexico (PRWEB) November 12, 2012
Banca Afirme, a Mexican bank, has selected SunGard’s Front Arena to help manage its treasury business. Front Arena will be implemented firm-wide in Monterrey and Mexico City to support trading and position management requirements through to settlement and accounting for all instrument types, including money market, exchange derivatives, stocks and over-the-counter (OTC) derivatives.
According to Mexico’s central bank, the Mexican economy has recovered quickly from the 2008 global financial crisis, and it is expected to grow in 2012. As a result, Mexican banks are looking for scalable solutions that can support their growth and offer trade management and position control capabilities.
Banca Afirme will consolidate its foreign exchange, derivatives and fixed income trading businesses onto Front Arena, which will support trading, trade processing and accounting. Banca Afirme will also use Front Arena’s tools for portfolio management, operations, general ledger accounting, settlements and profit & loss control.
Banca Afirme already uses SunGard’s Ambit solution for risk management and Ambit Credit Assessment solution for credit analysis. SunGard has more than 100 customers across Latin America, including four of the top ten banks.
Alejandro Monroy, market risk director of Banca Afirme, says, “Our decision to select SunGard was based on both the depth and proven global capability of the Front Arena solution, as well as the positive experience we have had in working with SunGard. Front Arena’s comprehensive functionality and flexible architecture will provide us with a solid and agile platform to help us grow our treasury and trading business over the next decade.”
Craig Schachter, senior vice president of SunGard’s capital markets business, said, “SunGard’s consolidated trading functionality, back-office tools and local capabilities will help Banca Afirme increase its trading efficiencies across multiple asset classes and take advantage of opportunities in Mexico’s growing economy.”
About SunGard’s 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/positioncontrol.
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 is ranked 480 on the Fortune 500. For more information, please visit http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo, Ambit 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. © SunGard 2012. All rights reserved.