Knight Selects SunGard鈥檚 Apex
29 November 2010 New York
Image: Shutterstock
Knight Clearing Services LLC, a subsidiary of Knight Capital Group, Inc., has chosen SunGard鈥檚 Apex securities finance solution for international securities lending and repo processing.
Knight engages in market making and trading across multiple asset classes on behalf of鈥╞uy-side and sell-side clients. Knight will use Apex to help process its international securities lending business as well as incorporate its fixed income repo business on a single platform, across front-, middle- and back-office operations.
Knight鈥檚 selection of Apex aligns with the firm鈥檚 clearing, securities lending and repo initiatives. Knight began using SunGard鈥檚 Loanet operations solution suite and Smart Loan front-office system for its US domestic stock loan business in 2009. With the addition of Knight鈥檚 international securities lending and repo business, the company required a real-time multi-product position management capability as well as a new platform for its fixed income repo desk. Using Apex with the SWIFT interface module, Knight will be able to process its fixed income repo and international stock loan business on a single platform.
Keith Babbitt, managing director and head of Global 麻豆传媒 Finance at Knight Clearing Services, said: 鈥淪unGard鈥檚 Apex will help us grow the business without system or cost constraints. The system鈥檚 robust functionality and scalability will give us the ability to use one consolidated platform to view and manage our securities lending and repo business operations, with the flexibility to evolve the platform to meet our changing business needs and requirements.鈥�
Brian Traquair, president of SunGard鈥檚 capital markets and investment bankingbusiness, said, 鈥淭o excel in the securities finance business, firms like Knight need to be able to streamline the full operational lifecycle of processing multiple securities finance transactions. SunGard鈥檚 Apex provides front-, middle-, and back-office processing of transactions, from securities borrowing and lending to positions management, trading and repo, while providing a holistic view across multiple business entities, currencies and products.鈥�
Knight engages in market making and trading across multiple asset classes on behalf of鈥╞uy-side and sell-side clients. Knight will use Apex to help process its international securities lending business as well as incorporate its fixed income repo business on a single platform, across front-, middle- and back-office operations.
Knight鈥檚 selection of Apex aligns with the firm鈥檚 clearing, securities lending and repo initiatives. Knight began using SunGard鈥檚 Loanet operations solution suite and Smart Loan front-office system for its US domestic stock loan business in 2009. With the addition of Knight鈥檚 international securities lending and repo business, the company required a real-time multi-product position management capability as well as a new platform for its fixed income repo desk. Using Apex with the SWIFT interface module, Knight will be able to process its fixed income repo and international stock loan business on a single platform.
Keith Babbitt, managing director and head of Global 麻豆传媒 Finance at Knight Clearing Services, said: 鈥淪unGard鈥檚 Apex will help us grow the business without system or cost constraints. The system鈥檚 robust functionality and scalability will give us the ability to use one consolidated platform to view and manage our securities lending and repo business operations, with the flexibility to evolve the platform to meet our changing business needs and requirements.鈥�
Brian Traquair, president of SunGard鈥檚 capital markets and investment bankingbusiness, said, 鈥淭o excel in the securities finance business, firms like Knight need to be able to streamline the full operational lifecycle of processing multiple securities finance transactions. SunGard鈥檚 Apex provides front-, middle-, and back-office processing of transactions, from securities borrowing and lending to positions management, trading and repo, while providing a holistic view across multiple business entities, currencies and products.鈥�
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