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Technology Stocks : Sungard Data Systems (NYSE:SDS)
SDS 16.13-2.7%11:36 AM EDT

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To: JakeStraw who wrote (83)9/4/2001 9:15:39 AM
From: JakeStraw  Read Replies (2) of 131
 
SunGard eTX Connects With ICAP's ETC Platform for Trade Execution and Straight-Through Processing
biz.yahoo.com
CALABASAS, Calif.--(BUSINESS WIRE)--Sept. 4, 2001--SunGard Treasury Systems, an operating group of SunGard (NYSE:SDS), today announced a partnership with ICAP Electronic Broking, a division of ICAP plc., to utilize the ETC(TM) Trading platform, together with eTreasury eXchange's straight-through processing for trading credit market instruments.

Last year, ICAP launched the Electronic Trading Community platform (ETC(TM)) that allows traders at major banks and investment houses to transact deals via a private extranet or the Internet.

ETC(TM) is a Java(TM) based application that provides real-time electronic access to the same liquidity pools as the voice-brokered market. Combining ETC(TM) with SunGard's eTX will enable SunGard clients to react to real-time trading opportunities.

Steve McDermott, chief executive of electronic trading at Garban-Intercapital, said: ``ETC(TM) was our first phase of a focused e-commerce strategy to produce an interactive network providing fast, cost-effective electronic broking and straight-through processing. By joining with eTX, we can offer a suite of services unique to the industry.''

SunGard eTX provides secure, real-time treasury functionality as a service of the SunGard Transaction Network (STN). It provides seamless integration between SunGard's treasury management applications (Quantum, GTM, ICMS/TS and ResourceIQ) and the financial community for cash management services and execution services (trading, borrowing and investment). SunGard Treasury Systems is a global provider of leading treasury management solutions. The eTreasury eXchange initiative, which was unveiled in November 2000, links SunGard Treasury's extensive international customer base to their financial services providers for cash management and banking services as well as transaction services in a range of financial products.

``Our technology and expertise, combined with Garban-Intercapital's access to liquidity, will add significant value for our treasury system clients,'' said Gary Bishop, president, SunGard Treasury Systems. ``eTX will enable Garban's client banks to increase trading volumes and service opportunities with SunGard Treasury Systems' clients via straight-through processing,'' Bishop said.

About ICAP plc

ICAP provides a specialist intermediary broking service to commercial banks, investment banks and other ``liquidity providers'' in the wholesale financial markets. As an integrated and increasingly technology based business ICAP is the largest operator of ``liquidity pools'' in these markets.

ICAP plc is listed on the London Stock Exchange (LSE:ICA.L) and joined the FTSE 250 Index in March 2001. ICAP plc posted a profit of (pound)75.6 million for the 12 months ended March 31, 2001. You can learn more by visiting www.icap.com.
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