SunGard Treasury Systems (STS) has merged its STN Treasury business and its eTreasury eXchange (eTX) business into a consolidated Enterprise Treasury business initiative. SunGard’s Tiger Systems business has also been consolidated into this initiative. The combined SunGard offering links several SunGard systems to electronic market, trading and information delivery services for straight-through processing of a range of financial instruments including foreign exchange, short-term investments and commercial banking. According to the firm, the offering incorporates ‘the best features and resources of the existing businesses’ and is aimed at connecting SunGard’s customers seamlessly to their financial services providers. ‘All current components of the combined businesses will continue under the new initiative with the exception of the multi-bank FX portal in light of the industry’s slow take-up of portals,’ said Greg Pond, group chief executive officer, SunGard Treasury Systems.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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