SunGard Data Systems
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WATCH: SunGard's John Omahen in Customer Segregation: Keep It Separate on MarketsWiki.tv (January 2013) |
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| SunGard Data Systems, Inc. | |
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| Headquarters | Wayne, Penn. |
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| Key People | Russ Fradin, President & CEO; Robert Woods, Chief Financial Officer |
| Employees | More than 20,000 |
| Products | Software and processing solutions for financial services, higher education and the public sector |
| SunGard | |
| 1872 | |
| SunGard | |
| Corporate Website | www.sungard.com |
| Releases | Company News |
SunGard Data Systems Inc. is one of the world's larger software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard, a privately held company, provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.[1]
SunGard Financial Systems provides software and IT services to institutions in most segments of the financial services industry. The primary purpose of most of these systems is to automate the many specialized business processes associated with trading, managing investment portfolios and accounting for investment assets.
A broad range of users within financial services are addressed, including asset managers, traders, custodians, compliance officers, treasurers, insurers, risk managers, hedge fund managers, plan administrators and clearing agents.
SunGard’s systems account for and manage more than $25 trillion in investment assets and process more than five million trades a day. SunGard also provides consulting services.[2]
SunGard launched its latest product for the derivatives market, Cliq, in 2010.
In June, 2012, the company partnered with the brokerage arm of Israeli exchange services firm, Migdal Capital Markets, to make their trading services and research expertise on the Israeli capital markets available via the SunGard Global Network (SGN). This move gives SunGard clients access to the Tel-Aviv Stock Exchange through Migdal's services. [3] The partnership intended to offer a low barrier of entry for investors to an Israeli economy that anticipates continued growth for years to come.[4]
In January of 2013, SunGard announced it had acquired XcitekSolutionsPlus, LLC (XSP), a provider of end-to-end, automated corporate actions solutions. The acquisition, the terms of which were not disclosed, was not expected to have a material impact on SunGard’s financial results.[5]
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History
1982: SunGard formed as a spin-off of a division of Sun Oil Company.
1986: SunGard goes public.
2005: SunGard becomes a private company as a result of an LBO valued at $11.4 billion. Organized by Silver Lake, the investors in the LBO included Bain Capital Partners, The Blackstone Group, Goldman Sachs & Co., Kohlberg Kravis Roberts & Co., Providence Equity Partners and TPG.[6]
2008: SunGard completed the previously announced acquisition of a majority interest in GL Trade, a global financial software solutions company.[7]
Organization
SunGard consists of four divisions:[8]
Availability Services
SunGard Availability Services is a provider of information availability solutions. In 1978, SunGard invented the business of disaster recovery, which has evolved into availability services. SunGard now offers a complete range of information availability solutions that include managed IT, professional and business continuity services. SunGard also has technology and systems management services for application and data center outsourcing, as well as business continuity consulting services and planning software.
Financial Systems
SunGard Financial Systems provides software and IT services to institutions in most segments of the financial services industry.
Higher Education
SunGard Higher Education provides software and support, systems implementation and integration, strategic consulting and technology management services to colleges and universities.
Public Sector
SunGard Public Sector serves a wide range of customers - school districts, nonprofit organizations and local, state and federal government agencies - with a range of specialized enterprise resource planning and administrative solutions.
Products and Services
SunGard's products and services include:
Cliq
In 2010, SunGard launched Cliq, a web-based derivatives service that provides standardized electronic communication and collaboration between buy- and sell-side financial institutions involved in the post-trade life cycle of derivatives trading.[9]
Assent ATS
On June 22, 2009, SunGard launched Assent ATS, an alternative trading system that provides a "dark pool" (crossing network) for U.S. equities. Assent ATS is available through SunGard's Assent broker-dealer division.[10]
Aligne On April 29, 2009, SunGard launched Aligne, a multi-commodity suite of software services for energy trading, processing of transactions, risk management, and operational and financial decision making.[11] In October 2012, the company announced the extension of Aligne to help customers comply with the Dodd-Frank Act.
Ambit
In 2008, SunGard launched Ambit, a new brand and a new software strategy for its banking solutions for retail, commercial and private banks.[12]
John Lothian News Interviews
Customer Segregation: Keep It Separate
There has been much talk about protecting customer funds but keeping them in segregated accounts outside of the brokerage house. John Omahen, vice president of post trade derivatives solutions at SunGard, talks about the value in moving customer funds to a clearing house. Such segregation could help not only protect customer funds, but also could create lower financing costs. Published Jan. 29, 2013.[13]
Key People
- Russ Fradin, President & CEO
- Robert Woods, Chief Financial Officer
- Harold Finders, CEO, Financial Systems
- Ron Lang, CEO, Higher Education
- Karen Mullane, Vice President & Controller
- Gil Santos, CEO, Public Sector
- Victoria Silbey, Senior Vice President, Legal and General Counsel
- Andrew Stern, CEO, Availability Services
- Kathleen Weslock, Senior Vice President, Human Resources and Chief Human Resources Officer
- Andrew Bateman, President, Energy and Commodities
References
- ↑ SunGard. www.sungard.com.
- ↑ Media Book (PDF). www.sungard.com.
- ↑ Migdal adds SunGard. The Business Trading Technology Network.
- ↑ Migdal joins SunGard. Yahoo News.
- ↑ Press Release. SunGard.
- ↑ About SunGard - History. SunGard.
- ↑ Press Release. FinExtra.
- ↑ Our Businesses. SunGard.
- ↑ Press Release. SunGard.
- ↑ SunGard Banks on Brass Users for New Dark Pool. Traders Magazine.
- ↑ SunGard Launches Integrated Solution Suite for Commodity Transaction and Risk Management. Press Release.
- ↑ Ambit Banking Solutions. SunGard.
- ↑ Customer Segregation: Keep It Separate. MarketsWiki.tv.
