US-based IT solutions company SunGard has given its customers access to centralised custody and settlement services through J.P. Morgan Clearing Corp.
Customers of SunGard’s SGN Short-Term Cash Management multi-fund cash investment solution will get cost savings and operational efficiencies, with access to multiple fund providers through a single connection.
A recent SunGard cash management study found that 37% of corporate have increased their cash surpluses over the last year.
The consolidated settlement and custody offering aims to help treasurers in managing larger amounts of money. There will be a focus on reducing paperwork and eliminating the need for multiple fund applications.
Bob Santella, president of SunGard’s brokerage business, said, "By leveraging the clearing expertise, breadth of services and credit quality of J.P. Morgan Clearing, SunGard is able to expand its offerings to cash managers globally by further automating the short-term investment process.
"SGN helps cash managers be more agile and productive, by providing the tools they need to help improve workflows and reduce costs while helping to mitigate trade and credit risk."
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By GlobalDataSGN Short-Term Cash Management provides research, analysis, trading and reporting capabilities. It is a global, short-term investment trading and connectivity solution used by treasury and investment specialists at corporations, hedge funds, public utilities, governments, colleges and universities.
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