Manual entries are no more, say SunGard
05 February 2014 New York
Image: Shutterstock
SunGard’s Loanet, a suite of solutions for the US and Canadian securities finance industry, has created a new order management service that aims to help borrowers and lenders increase automation and boost productivity of their trading businesses.
A statement from the firm said that the new service would help centralise and automate the daily communication between lenders and borrowers, which can be inefficient with information flowing via telephone, IM, e-mail, or through spreadsheets.
Borrowers will be able to combine real-time lender inventory with additional inventory sources in an automated, central system.
Loanet’s order management service gathers availability information from numerous lenders to allow borrowers to fill an order and then automates settlement, making manual entries a thing of the past. With the new service, orders can be directed either to lenders in a bilateral trade or to an exchange platform (AQS). The straight-through processing service automates contract booking and settlement at DTCC.
Josh Galper, the managing principal at Finadium, said that central order systems for securities lending are the next phase of efficient loan management.
John Grimaldi, executive vice president of SunGard’s North American securities operations and securities finance, said: “The lack of automation and straight-through processing can create unnecessary costs, risks and inefficiencies to the securities finance industry. Loanet’s centralised order management service improves the utilisation of securities, increases transparency on supply, and maximises loan rates on the most sought-after securities.”
A statement from the firm said that the new service would help centralise and automate the daily communication between lenders and borrowers, which can be inefficient with information flowing via telephone, IM, e-mail, or through spreadsheets.
Borrowers will be able to combine real-time lender inventory with additional inventory sources in an automated, central system.
Loanet’s order management service gathers availability information from numerous lenders to allow borrowers to fill an order and then automates settlement, making manual entries a thing of the past. With the new service, orders can be directed either to lenders in a bilateral trade or to an exchange platform (AQS). The straight-through processing service automates contract booking and settlement at DTCC.
Josh Galper, the managing principal at Finadium, said that central order systems for securities lending are the next phase of efficient loan management.
John Grimaldi, executive vice president of SunGard’s North American securities operations and securities finance, said: “The lack of automation and straight-through processing can create unnecessary costs, risks and inefficiencies to the securities finance industry. Loanet’s centralised order management service improves the utilisation of securities, increases transparency on supply, and maximises loan rates on the most sought-after securities.”
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