The new product provides trade comparison and correction processing for borrows and loans in equity and corporate debt as well as non-cash and cash pool collateral. It also attempts to improve transparency, efficiency and speed in resolving exceptions.
Brian Traquair, president of SunGard’s Loanet business unit, said: Loanet.Net International Compare helps capture, compare and correct errors in real-time, helping to reduce market exposure and monthly billing differences, which helps translate into cost savings for our customers.
According to SunGard, the Loanet.Net application extracts data from the customer’s core equity finance recordkeeping applications for comparison, provides web-based exception review and real-time correction and processes the appropriate adjustments in the core applications.
The launch of the Loanet.Net International Compare comes as SunGard prepares to unveil a line of new services for the international securities finance community throughout 2005. These include International Non-Cash Marks, Billing Compare (Multi-Market), Recalls (ARM), Repo Compare for the middle/back office and International Order Routing for the front office.
