|Advantage Futures Goes Live on SunGard's GMI for High Volume Derivatives Processing|
Wednesday August 6, 4:30 pm ET
CHICAGO--(BUSINESS WIRE)--Aug. 6, 2003--SunGard Futures Systems, an operating unit of SunGard (NYSE:SDS), announced today that Chicago-based futures commission merchant (FCM) Advantage Futures LLC has gone live on SunGard's GMI to manage high volume back office processing and accounting of exchange-traded derivatives and futures.
Advantage Futures, a newly formed FCM with a large professional trader client base, needed a scalable and reliable system to manage its derivatives and futures processing in a high-volume environment. In its first month of operation, Advantage Futures processed approximately 10 million contracts on GMI without requiring any infrastructure changes or additional costs. Advantage Futures is seeking to diversify and grow its client base to include both retail individual and institutional trading customers in the near future, for which it anticipates even higher processing volumes.
"The robust nature of GMI allows us to maximize growth rate without having to grow our staff or add expense," said Jim Zellinger, president and chief operating officer Advantage Futures LLC. "We wanted a long-term partner with real staying power in the market, and SunGard has proven its longevity and reputation in the industry. In addition, SunGard's and GMI's prevalence in the global futures arena has made staffing and training effortless, since many qualified professionals already are familiar with the system."
GMI is a powerful back-office clearing and accounting software solution for the global exchange-traded derivatives marketplace. Clearing firms, securities firms, brokerage houses, emerging derivative players and the regionalized investment community rely on GMI every day for acquisition, processing, management, dissemination, integration and booking of all clearing and trade processing activities for any exchange-traded derivative.