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Technology Stocks : Sungard Data Systems (NYSE:SDS)

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To: klambet who started this subject3/3/2004 8:02:52 AM
From: JakeStraw   of 131
SunGard Launches Octagon IT Services
Tuesday March 2, 4:35 pm ET
Octagon IT Services Provides Outsourced Processing Services for High-Volume Futures and Derivatives Trading in Central Europe

FRANKFURT, Germany--(BUSINESS WIRE)--March 2, 2004--SunGard Futures Systems, an operating unit of SunGard (NYSE:SDS), announced today the availability of SunGard's Octagon IT Services, an application service provider (ASP) version of its Octagon system for exchange-traded derivatives and futures trade management, processing and accounting. Octagon IT Services provides a secure, outsourced processing environment for futures commission merchants participating in high-volume trading in Germany and throughout Central Europe.
"With Octagon IT Services, futures brokers can effectively reduce costs and reliance on internal resources to maintain systems in-house, while improving their operational efficiency, system availability and scalability," said Joachim Holzer, managing director of SunGard Futures Systems' Central European operations. "Octagon IT Services is a comprehensive solution that provides real-time access to data, external interfaces with exchanges and regulatory authorities, multi-level system security, and full backup and recovery."

Serving financial institutions in Central Europe since the early 1990s, Octagon provides high-volume processing and accounting for exchange-traded derivatives, futures and options, from order to clearing and settlement. Octagon IT Services features a Java-based user interface and includes interfaces to regulatory bodies for reporting purposes, providing institutions with an efficient, single-vendor solution. SunGard provides Octagon IT Services with full system backup and recovery using SunGard Availability Services, and comprehensive support services through SunGard Futures Systems, both located in Germany.

Octagon IT Services also integrates with other SunGard solutions for futures trading, including Exchange Gateway for retrieving trade and order information from MISS Architecture and OM-Net based exchanges, WorldSource for worldwide daily revaluation data, and Global Margin Server for initial and intraday variable margin calculations.
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