Chicago, IL (Vocus) February 4, 2009
CX Capital Markets LLC, a new futures commission merchant focusing on institutional and managed account business, will use SunGard's GMI clearing and accounting system for exchange traded derivatives, futures and options in an application service provider (ASP) environment.
Connie Burnet, vice president of operations at CX Capital Markets, said, "Our goal is to offer excellent service at competitive prices, and provide our clients a high level of reliability, confidentiality and personal service. As our core back-office platform, SunGard's GMI will be a key component to achieving these goals from an operational standpoint, by providing ease of use and flexibility with room to grow. In addition, SunGard's industry knowledge and responsiveness will help to ensure a successful roll-out of our business as well as consistent client service."
Gerry Murphy, president of SunGard's brokerage and clearance business, said, "The breadth of functionality of SunGard's GMI makes it well suited for a range of financial services organizations, from large tier 1 to start-up organizations like CX Capital. With GMI provided in an ASP environment, firms can benefit from a swift implementation and the ability to hit the ground running on day one and support future growth."
The owners of CX Capital Markets are also principals of X-Change Financial Access (XFA), a prominent execution group that fills orders on the Chicago Mercantile Exchange/Chicago Board of Trade (CME/CBOT) and Chicago Board Options Exchange (CBOE) trading floors.
About CX Capital Markets
CX Capital Markets is a Limited Liability Company (LLC) incorporated in Delaware in June 2008. The firm's registration with the National Futures Association (NFA) as a Futures Commission Merchant (FMC) became effective on January 27, 2009. CX Capital Markets currently operates as a non-clearing FCM with offices at 440 S. LaSalle Street in Chicago. The firm's website is http://www.cxcapitalmarkets.com.
About SunGard's GMI
A clearing and accounting system for global exchange-traded derivatives, futures and options, GMI supports the activities of clearing firms, securities firms, brokerage houses, and other participants in derivatives trading, such as multi-national agriculture and energy companies. GMI links to exchanges worldwide for access to pricing updates, margins and risk arrays. Customers use GMI to help eliminate manual processes and consolidate data in a single integrated accounting system, control costs and increase competitiveness.
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 25 largest financial services companies. Visit SunGard at http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo and GMI 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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