|Bear Stearns Selects SunGard to Power e-Brokerage Business|
NEW YORK--(BUSINESS WIRE)--Oct. 23, 2001--SunGard EMS, an operating unit of SunGard (NYSE:SDS), announced today that Bear, Stearns Securities Corp., one of the world's leading securities trading and brokerage firms, has chosen SunGard technology to power the retail e-brokerage operation of its correspondent business.
Built on SunGard's robust, second-generation BrokerWare technology platform, the Bear Stearns' solution will provide unique, flexible online trading sites to more than 200 correspondent firms in the United States. Along with seamless integration to existing back-office and order processing technologies, SunGard EMS will also provide a host of market data and Web-based services, including real-time quotes, alerts, advanced charting, and integration with third-party services. The solution will be hosted at SunGard's new data center in Mt. Laurel, NJ.
``SunGard's robust feature set and efficient architecture will offer Bear Stearns' clients expanded and enhanced functionality, both in terms of content, customization and services offered,'' commented Bennett Egeth, senior managing director in the Global Clearing Services for Bear Stearns Securities Corp. ``We're confident that the SunGard solution will give our correspondents a competitive edge in the rapidly consolidating brokerage market.''
As a custom-built solution, this large-scale project involves a mix of existing XML messaging technology and professional services development. The solution will give Bear Stearns the ability to rapidly create, entitle, and launch individual Web sites, as well as customize the Web interface to provide a uniquely-branded site to each of its correspondent firms.
``The Bear Stearns project represents a breakthrough for SunGard EMS,'' explained Richard Seguin, president, SunGard EMS. ``While we've been servicing US clients for several years now, this latest deal gives us a tremendous boost both in terms of reach and visibility in the US.''