As part of plans to enhance its product offerings, global software giant SunGard has acquired Dataware Solutions, a provider of employee trading compliance software to financial institutions.
Dataware Solutions will become part of SunGard’s Protegent compliance, surveillance and suitability solutions business. Protegent is an automated compliance and supervision solution that is said to help investment firms oversee business processes and employee activities.
Paul Erickson, president of SunGard’s Protegent business unit, said, Dataware Solutions brings expertise and a proven application that will help us to meet the proactive compliance needs of broker/dealers, investment advisors, hedge funds and money managers.
He continued, Adding Dataware Solutions to Protegent will help us extend employee compliance capabilities to organizations that need better risk controls but do not have the time or expertise to build a solution themselves.