SunGard is now offering Barclays Global Investors' US dollar-, Pound sterling- and Euro- denominated money market funds on the SunGard Transaction Network's (STN's) Money Market portal. The addition will provide STN clients with a broader range of options for their portfolios. -ed.
SunGard today announced that Barclays Global Investors Limited's (BGI's) US dollar-, Pound sterling- and Euro- denominated money market funds are available on the SunGard Transaction Network's (STN's) Money Market portal. The addition of BGI funds provides STN customers with the ability to select from a broader range of products, helping them to further diversify their portfolios.
STN Money Markets provides a single connection to help global short-term cash investors, including corporate treasurers, hedge funds and government entities, to compare, analyze, trade and report on enhanced cash, commercial paper and more than 220 money market funds denominated in multiple currencies. The STN Money Market portal also helps accounting, compliance and audit teams to monitor trades and track and report on outstanding holdings, at no cost to investors.
Through its direct and fully disclosed trading model, STN also helps customers retain their relationships with fund providers such as BGI. By offering access to a wider group of investment options and simplifying daily processing requirements, STN gives its customers the tools to help diversify their investment holdings, increase operational efficiencies, reduce costs and mitigate trade-related risk.
James Finch, head of liquidity sales, BGI UK/Europe, said, "We are pleased to offer BGI's range of international cash funds through the SunGard Transaction Network, thereby extending our global distribution and providing hundreds of STN customers with greater diversity when selecting short-term cash vehicles that meet their investment criteria."
"Our customers rely on STN to provide them with a single point of access and automated trading with multiple investment providers and fund offerings," said Bob Ward, chief operating officer at SunGard's STN business unit. "Through the addition of BGI's international money market funds, we are providing investors with the opportunity to broaden their short-term cash investments, without increasing the manual processes traditionally associated with managing direct relationships with multiple fund providers."
Established over 30 years ago, Barclays Global Investors Limited (BGI) is the world's largest fund manager with over $1.6 trillion (£877 billion) in assets under management as at 30 June 2006. Through continual innovation, we have delivered an unparalleled range of investment products and services. Our comprehensive cash offering aims to provide clients with the liquidity, risk control and returns they require for effective cash investment, whether for day-to-day or longer term needs and as at 30 June 2006 our cash assets totaled £89 billion (?128 billion).
A trade automation and connectivity solution, the SunGard Transaction Network (STN) links institutions throughout the financial services value chain, facilitating the purchase and sale of many securities types, including US and foreign equities, fixed income, mutual funds, money market funds, certificates of deposit, and commercial paper. Integrated directly with SunGard systems and with third-party systems, STN helps automate the entire transaction lifecycle.
With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their businesses. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
STN trade automation and connectivity services are provided by SunGard Institutional Brokerage Inc., Member NASD/SIPC.
This piece is for institutional use only. It does not constitute investment advice, nor is it a recommendation to buy or sell a specific security or investment product.
Trademark Information: SunGard, the SunGard logo, and STN are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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