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February 17, 2010

Knight Selects SunGard Loanet To Manage Securities Lending Division

Knight Clearing Services, a subsidiary of Knight Capital Group, has implemented SunGard’s Loanet securities finance solution suite to help manage the requirements of its front-office, accounting, settlement and clearance and regulatory operations within its newly formed securities lending division.

By CBR Staff Writer

Loanet is a securities finance managed service that offers not only functionality across the entire trade lifecycle, but also the communications to help ensure efficient market access and maximum operational automation with other market participants. Loanet offers Knight speed to market coupled with the benefits of joining an established securities lending community.

Using Loanet Smart Loan to manage its front-office activities, Knight can control stock positions and manage locates, which helps provide the firm with a degree of automation and the ability to spend more time on added-value trading activities.

Christopher Pento, managing director and head of Knight Clearing Services, said: “We believe Loanet is a solid, proven platform for the securities financing business, and one that allows us to establish a self-clearing model with an industry standard solution. SunGard’s Loanet provides us with a tightly integrated, fully automated solution that helps manage our needs for securities lending.”

John Grimaldi, executive vice president and general manager of Loanet business unit at SunGard, said: “We are pleased to have Knight join our established securities finance customer community. Our expertise comes from a long history of providing customers with comprehensive services for their North American domestic securities lending and associated financing needs.”

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