Absa upgrades stock lending capabilities 26 September 2011Johannesburg Reporter: Anna Reitman
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Absa Capital has upgraded its versions of SunGard’s Global One, a suite of securities finance solutions for trade processing, operations and reporting. Absa Capital uses Global One interfaced with STRATE, South Africa’s electronic settlement system, for processing transactions on the Johannesburg Stock Exchange and off market trades.
Chris Edwards, head of prime services at Absa Capital, said, “SunGard’s Global One provides Absa Capital with a sound securities lending system that helps increase our competitiveness. It is also helping us achieve our objective of straight- through processing, thereby making our offerings more attractive to our clients. Support from SunGard and its commitment to deliver on time further assist our business in our quest for continued growth and maintaining that competitive advantage.”
A multi-currency system for international securities lending, Global One supports both brokers and lenders. Organizations use Global One and its real-time communications capabilities for the administration and management of international and domestic securities lending activities.
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