SunGard (http://www.sungard.com) today announced that European Credit Management, a specialized investment manager based in the UK, has selected intelliMATCH to help automate matching and reconciliation across its portfolios with prime brokers and fund administrators.
European Credit Management (ECM) has grown significantly over the past several years, with assets under management that currently exceed EUR18 billion. As it continues to grow and add new asset classes, the organization needed a reconciliation tool that could handle rising volumes and support a range of different, and in some cases complex, securities on a single platform. ECM chose intelliMATCH for its ability to manage asset classes, including the key fixed income asset classes managed by ECM: corporate bonds, CDS, bank capital, asset backed securities, emerging market debt and leveraged loans. IntelliMATCH also met the organization's requirement for scalability to support volume increases as the business continues to grow.
"In addition to flexibility and scalability, one of the key differentiators that influenced our selection of SunGard's intelliMATCH was the solution's ability to help ECM's fund administrators to access relevant portfolios and funds via the Web," commented Rob Galione, head of operations, European Credit Management.
ECM will use intelliMATCH to reconcile cash positions across its fixed income portfolios from its accounting and settlements systems with its prime brokers and custodians. The intelliMATCH Dashboard will provide ECM with a real-time view of its matching and reconciliation operations, for managers and users, quickly identifying breaks and exceptions to help reduce operational risk.
Tom King, president of SunGard's STeP business unit, commented, "The addition of European Credit Management to our growing community of asset and investment managers highlights the industry's trend toward automation. We look forward to working with ECM and other buy-side institutions to help streamline their transaction management processes and help them reduce operational and financial risk."
Share
Founded in 1999, European Credit Management has over EUR18 billion in assets under management, invested on behalf of institutional clients worldwide in European corporate bonds, bank capital, European emerging markets, asset-backed securities and leveraged loans. Based in London and authorized by the FSA, it has a rating of AM2 from Fitch Ratings. For the last three consecutive years, it was been the winner of Global Investor's Award for Investment Excellence as 'European Bond Manager' / 'European Fixed Active' Manager.
SteP
SunGard STeP provides a suite of business solutions that helps deliver Straight-Through Enterprise Processing (STeP) to banks, investment managers, broker dealers, and corporations. STeP connects customers' internal applications and business processes with external services and networks while managing the operations around their business processes. STeP solutions include MINT for SWIFTNet and financial messaging integration; intelliSUITE for reconciliation, exception processing, transaction research, and liquidity management; and Trade Management for post trade automation.
SunGard
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 business. 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.
Trademark Information: SunGard, the SunGard logo, intelliMATCH, intelliSUITE, MINT and STeP 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.
Editorial contacts