Singapore Financial Services Firms Select SunGard’s Managed Services To Help Optimize Performance
A group of financial services firms in Singapore have chosen to migrate their operations to SunGard’s managed services to help adapt to industry change, optimize performance, boost cost efficiencies, leverage new technologies and focus on serving their clients.
Among the firms that selected SunGard’s managed services include the Securities Association of Singapore – AmFraser Securities, CIMB Securities, DBS Vickers, DMG & Partners, Lim & Tan, Phillip Securities and UOB Kay Hian. As existing SunGard customers whose trading operations are supported by SunGard’s Valdi trading platform, the firms will now run the latest version of the solution as a managed service co-located at the Singapore Exchange.
Across SunGard’s customer base of approximately 16,000 customers around the world, the software and services provider has been seeing a growing trend among financial services firms to outsource more IT infrastructure needs, which has resulted in moving more software and solution offerings to managed services environments. The combination of software and managed services will help these Singapore-based firms leverage new functionalities including securities and derivatives trading from the same terminal, with the possibility to connect from anywhere via the Internet, advanced trading algorithms and integrated multi-market pre-trade risk management features. Migrating their trading operations to SunGard’s managed services model will help these firms control costs, increase agility, lower operational risks and optimize system uptime and processing reliability for their clients.
OCBC Securities Private Limited (OSPL) is another Asia-based firm that is using Valdi on SunGard’s application service provider (ASP) model to help keep it updated with software upgrades and regulatory compliance requirements, such as the Monetary Authority of Singapore’s recent trading risk management (TRMv4) guidelines. Moving to SunGard’s ASP model will also help OSPL rationalize systems maintenance costs, enhance its scalability and re-deploy staff more strategically to help impact the bottom line.
“SunGard’s Valdi has helped us in developing best practices to drive competitive advantage while keeping up-to-speed with regulatory standards. In particular, the system’s scalable functionality helped us to achieve these with minimal interruption to our trading activities. Leveraging Valdi on SunGard’s ASP model will help us capitalize on SunGard’s software and services expertise,” commented Raymond Chee, Managing Director, OCBC Securities Private Limited.
“Asia’s trading landscape continues to evolve with cross-asset and multi-market trading. As such, many firms in the region are looking to rationalize technology vendor relationships to support their spectrum of software and service requirements. This helps them to leverage third party expertise so they can focus their efforts on core business strategies that enable them to successfully capitalize on this market change. By providing a combination of software and technology services, SunGard is committed to helping all of these regional firms grow their businesses by providing their clients with enhanced trading solutions that fit their changing needs,” concluded Nasser Khodri, managing director, Asia-Pacific, SunGard.