NEW YORK, May 13, 2009 (GLOBE NEWSWIRE) -- Quadriserv and SunGard today announced a joint initiative under which SunGard's Loanet securities lending processing technology and Quadriserv's AQS securities lending marketplace will integrate to provide seamless transaction processing. AQS is operated by Automated Equity Finance Markets, Inc., a wholly owned subsidiary of Quadriserv.
The systems integration will provide Loanet customers with ready access to AQS, Quadriserv's regulated centralized and transparent securities lending marketplace. Transactions matched on AQS are processed through The Options Clearing Corporation (OCC), which provides central counterparty guarantees and trading anonymity.
John Grimaldi, executive vice president and general manager of SunGard's Loanet business unit said, "For several years we have been closely monitoring the evolution of the securities lending market towards both greater operational efficiencies and a central counterparty structure. This collaboration with AQS advances our efforts on both fronts, as our mutual customers will benefit from enhanced Loanet services and access to Quadriserv's AQS securities lending marketplace."
"AQS is committed to an open-door partnership policy, which we believe will facilitate access to the AQS marketplace from the broadest range of industry participants," commented Gregory W. DePetris, Co-Founder of Quadriserv. "The strategic initiative with SunGard - and the integration of the AQS marketplace with SunGard's Loanet suite of securities lending solutions - embodies this approach. We are pleased to formalize this collaborative relationship with SunGard, and look forward to our continued work with them to deliver innovative, productivity enhancing technology to the securities lending industry."
SunGard's Loanet and AQS will deliver increasing levels of functional integration for their mutual clients over the coming months. These enhancements include further improvements to operational efficiencies and trade automation, and ultimately support for straight-through processing and multi-product integration.
About Quadriserv, Inc.
Quadriserv is a leader in delivering transformational market structure changes to the securities lending industry. Quadriserv, through its wholly owned subsidiary, Automated Equity Finance Markets, Inc., has developed the AQS platform for securities lending. AQS, through its relationship with The Options Clearing Corporation, has created a centrally-cleared marketplace for securities lending transactions in the U.S., and plans to expand into the European market through its relationship with Eurex Clearing. As a FINRA member broker-dealer and a SEC regulated alternative trading system (ATS), AQS aims to maximize liquidity, access, credit and transparency, while mitigating systemic risk, through a fully automated trading environment. For more information about Quadriserv, please visit www.quadriserv.com or www.tradeaqs.com.
About Loanet
SunGard's Loanet is a multifaceted solution for equity finance, serving broker-dealers, custodian banks, agent lenders, and other participants in the securities lending markets. Loanet provides a real-time interactive platform across which these participants can communicate and complete transactions, as well as software systems for order routing, order management, and accounting. Organizations use Loanet to automate securities borrowing and lending activities, helping to handle large transaction volumes efficiently. For more information, please visit SunGard at www.sungard.com/securities/finance.
About SunGard
SunGard is one of the world's leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world's 25 largest financial services companies.
SunGard 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 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented five times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Loanet 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.