NEW YORK–(BUSINESS WIRE)–Sept. 24, 2003–SunGard (NYSE:SDS) today announced that SunGard Institutional Brokerage Inc. is now a full Member of S.W.I.F.T., the industry-owned cooperative supplyingsecure, standardized messaging services to 7,500 financial institutions in 200 countries.
At the same time, SunGard is launching the SunGard MessageHub, a connectivity service for SWIFT utilizing MINT messaging solutions from SunGard Business Integration. The SunGard MessageHub will offer corporate treasuries, hedge funds, insurance companies and other SunGard clients the ability to leverage SWIFT connectivity and messaging under SunGard Institutional Brokerage Inc.’s SWIFT Business Identifier Code (BIC), SUNDUS33.
The SunGard MessageHub, a registered SWIFT service bureau, will also offer SWIFT-eligible clients the option of outsourcing their entire SWIFT operations to leverage SunGard’s infrastructure and operating efficiencies.
SunGard is uniquely positioned to offer these services with its combination of leading SWIFT messaging software solutions, world-class processing and hosting infrastructure, and U.S. registered broker/dealer status, which allows SunGard to manage SWIFT connectivity on behalf of its customers. Services will be charged on a per message fee and/or a monthly hosting fee, based on usage.
“SWIFT is a key utility for the global securities industry, and we are pleased to become a full Member of the SWIFT organization, in order to offer SWIFT connectivity to many of our customers who do not use SWIFT today, including over a thousand corporate treasuries,” stated Cris Conde, SunGard’s president and chief executive officer.
SunGard will offer its customers the choice of outsourcing their entire SWIFT operations and connectivity to the SunGard MessageHub, or simply accessing it as a messaging connectivity service into SWIFT, depending on the business need. The SunGard MessageHub is managed by SunGard Business Integration and hosted by SunGard Availability Services, offering disaster recovery and operational resilience.
SunGard Institutional Brokerage Inc., member NASD/SIPC
About SunGard
SunGard is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world’s 50 largest financial services institutions. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of more than $2 billion. Visit SunGard at www.sungard.com.
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