A group of financial services firms in Singapore have chosen to migrate their operations to SunGard’s managed services. This is, according to SunGard, “to help adapt to industry change, optimize performance, boost cost efficiencies, leverage new technologies and focus on serving their clients.”

Participating firms

Among the firms that selected SunGard’s managed services include the Securities Association of Singapore – AmFraser Securities, CIMB Securities, DBS Vickers, DMG & Partners, Lim & Tan, Phillip Securities and UOB Kay Hian. As existing SunGard customers whose trading operations are supported by SunGard’s Valdi trading platform, the firms will now run the latest version of the solution as a managed service co-located at the Singapore Exchange.

The combination of software and managed services will help these Singapore-based firms leverage new functionalities including securities and derivatives trading from the same terminal, with the possibility to connect from anywhere via the Internet, advanced trading algorithms and integrated multi-market pre-trade risk management features. SunGard claim that, “Migrating their trading operations to SunGard’s managed services model will help these firms control costs, increase agility, lower operational risks and optimize system uptime and processing reliability for their clients.”

Bank transaction banking services

As well as white labelling partner bank services, as described in Satvinder Singh’s vision for transaction banking - see, banks are also increasing their use of third party supplier services, such as SunGard’s Valdi service. 

“Asia’s trading landscape continues to evolve with cross-asset and multi-market trading. As such, many firms in the region are looking to rationalize technology vendor relationships to support their spectrum of software and service requirements. This helps them to leverage third party expertise so they can focus their efforts on core business strategies that enable them to successfully capitalize on this market change. By providing a combination of software and technology services, SunGard is committed to helping all of these regional firms grow their businesses by providing their clients with enhanced trading solutions that fit their changing needs,” concluded Nasser Khodri, managing director, Asia-Pacific, SunGard.

---

CTMfile take: Corporates will find that increasingly banks are using partnerships and third party suppliers to provide transaction banking services. Corporate treasury departments need to ask when reviewing transaction banking services how the service is provided and what part the bank has full control over.