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November 17, 2009

SunGard’s Sierra Trading, Risk Solutions Integrate With Traiana

To help streamline post-trade FX processing

By CBR Staff Writer

SunGard, a global provider of software services, has integrated its Sierra suite of trading, risk and position management solutions with Traiana’s Harmony Network. Traiana is a market standard for post-trade processing of foreign exchange (FX) trades.

The integration will give customers of both platforms the ability to consolidate executions across venues in order to help streamline FX post-trade processing and settlement, and deliver efficiencies to all constituents of their trades.

SunGard said that the integrated solution will automate the give-up process in the foreign exchange prime brokerage community, electronic communications networks and single dealer platforms. The straight-through processing is likely to offer SunGard’s Sierra customers will help them to save costs, reduce risk and gain transparency.

In addition, transactions can be reconciled via Traiana’s Harmony in real-time with external parties. SunGard’s Sierra solution can be hosted on an application service provider (ASP) basis or deployed as an on-premises licensed version.

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Illit Geller-Gurfinkel, executive vice president of business development at Traiana, said: “The combination of Traiana Harmony’s end-to-end post-trade solutions and SunGard’s Sierra trading, risk and position management solution will help to improve efficiency and encourage the use of best of breed technology in the FX market.”

Jim Dennelly, senior vice president of Sierra at SunGard’s capital markets and investment banking business, said: “The integration with Traiana’s Harmony network will mean that we can provide post-trade processing for foreign exchange trades directly to our customers, which will help them gain processing efficiencies and reduce cost.

Traiana’s FX processing expertise, coupled with SunGard’s capability in risk management, will help us offer a complete trading solution to our customers.”

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