|U.S. Bancorp Piper Jaffray Selects SunGard for Fixed Income Trading|
SunGard to Provide Integrated STP Solution Across Fixed Income Desk
CALABASAS, Calif.--(BUSINESS WIRE)--June 15, 2001--SunGard (NYSE:SDS - news) today announced that U.S. Bancorp Piper Jaffray has selected SunGard Trading Systems' Global Trader trading software and SunGard Business Integration's MINT middleware technology, to provide an integrated straight-through processing trading solution for fixed income trading operations.
The integrated SunGard solution will handle fixed income trading, sales and order management for all U.S. Bancorp Piper Jaffray's institutional services in the full range of fixed income instruments, from repos and commercial paper to municipal and convertible bonds. It will provide real-time pricing quotes to the institutional sales force and feed the retail sales offering system.
Global Trader and MINT will form the core of an entire SunGard solution, which will incorporate BOLT for back office processing and the BRASS order management system, and which will also link to the SunGard Transaction Network (STN).
The new system will provide U.S. Bancorp Piper Jaffray with a single point of access for simultaneous offer- and order-routing to multiple electronic communication networks (ECNs) and automated trading systems (ATSs), using MINT's advanced integration technology.
U.S. Bancorp Piper Jaffray sought this system to help prepare them for the next generation of fixed income trading -- delivery and execution via the Internet. MINT middleware technology will help U.S. Bancorp Piper Jaffray adapt to changes in the electronic trading environment, by creating a dynamic link between the various systems used in their fixed income operations.
Dan Herbeck, chief technology officer at U.S. Bancorp Piper Jaffray, said: ``The SunGard solution gives us the business platform we were looking for. Our partnership with SunGard, and the suite of SunGard products, allows us the flexibility to adapt to and manage our business needs in the key areas of electronic trading and integration.''
David Crellin, president of SunGard Trading Systems, Global Markets, commented: ``This is a very significant partnership for SunGard. Global Trader will be providing front-end trading functionality across more than 250 workstations in nearly 20 branch locations. With MINT providing critical messaging applications and connectivity to ECN trading partners, and SunGard's BOLT products handling fixed income back office accounting and processing, we will provide an extremely robust STP trading solution for U.S. Bancorp Piper Jaffray's fixed income trading operations.''
Daniel Barsella, president of SunGard Business Integration, commented: ``We are very excited to be the integration platform for U.S. Bancorp Piper Jaffray and to be providing a solution that combines multiple best-of-breed SunGard and third party applications. This is yet another demonstration of our ability to provide clients with fully integrated STP solutions that deliver real business benefits.''
SunGard's Global Trader software provides front-end deal capture, position keeping and analytics for fixed income and foreign exchange trading desks worldwide. SunGard Business Integration, a leading provider of application and process integration services, provides middleware and financial message transformation technology to support seamless STP between a variety of SunGard and non-SunGard applications.