UOB Bullion and Futures (UOBBF) has deployed SunGard’s post-trade cross-asset processing solution to support trading and clearing services for major global exchanges.
The solution includes support for clearing, custody and settlement, and includes managed services to help streamline back-office processing.
CEO of UOBBF, Matthew Png, said: "SunGard’s robust cross-asset solutions have allowed us to enhance the efficiency of our back-end operations for the trading and clearing of various asset classes including derivatives, foreign exchange and securities. This translates to a faster onboarding process and shorter time to market when creating investment opportunities and products for our customers."
UOBBF has recently expanded its derivatives business to include global exchanges such as the Eurex Exchange, CME Group, Dubai Gold and the Commodities Exchange. In doing this it has become the first Asian bank to offer clearing services for Eurex Exchange transactions.
SunGard’s solutions are designed to help businesses to achieve a lower cost of ownership, greater efficiency and faster speeds to market, while also assisting with regulatory challenges. It is also hoped that the service could help UOBBF to access new markets and product lines.
Nasser Khodri, managing director of SunGard’s capital markets in the Asia-Pacific region, said: "Our managed services allow UOBBF to focus its talents on initiatives that will help differentiate it from its competition and help meet the needs of its clients and shareholders.”
“This is further proof that our solutions can support both the regional and global requirements of leading financial firms. Through our cross-asset solutions and services, proven infrastructure, innovation and leadership in the industry, SunGard is able to help firms such as UOBBF operate smarter, while assisting it in achieving cost efficiency and a competitive advantage in the marketplace.”
