SunGard, a financial solutions provider, has announced that Calyon Securities has signed a multi-year agreement to continue its use of its Phase3 multi-asset, multi-currency securities processing solution.
Calyon uses Phase3 integrated with SunGard’s Margin Advisor, a real-time, cross-asset margin and credit monitoring system, and STN Settlements, a central interface management solution for securities clearance and settlement.
Calyon estimates that since 2001, its use of Phase3 to process equities, fixed income and options on one consolidated platform, has helped it recognize significant savings in annual clearing fees and IT costs, despite a ten-fold increase in transaction volumes. The consolidated Phase3 platform supports multiple business lines in a flexible, holistic manner and helps avoid the costs and inefficiencies of processing different products on separate applications. Business growth and increased processing volumes now necessitate the need for Calyon to move from a service bureau to a facilities management delivery model, by which Calyon leverages dedicated SunGard-managed servers exclusive to the Calyon processing environment.
Phase3 will also continue to replicate data to Calyon’s own servers supporting the company’s customer Web portal applications. Calyon will use SunGard business continuity services providing ‘hot-site’ or near-instantaneous data recovery in the event of a service interruption. In addition to SunGard’s Margin Advisor and STN Settlements solutions, Phase3 integrates seamlessly with SunGard’s Brass order equities trading platform, Loanet real-time interactive equity finance solution, and STeP matching and reconciliation system to provide a seamless processing environment.