Mar 20, 2013
New York, March 11th 2013 - SunGard is adding the ability for customers of its SGN Short-Term Cash Management multi-fund cash investment solution to access centralized custody and settlement services through J.P. Morgan Clearing Corp. The combination of SGN and J.P. Morgan capabilities will help provide cash investors with cost savings and operational efficiencies by accessing multiple fund providers through a single connection.
As the role of the corporate treasurer expands and increased cash surpluses place added pressure on corporates’ short-term investment strategies, customers that maintain many fund provider relationships are looking to streamline their cash management operations. According to the Association for Financial Professionals’ (AFP) Treasury Benchmarking Program: 2012 Survey, treasury in a majority of organizations has taken on a number of additional functions over the past five years, with at least two-thirds of survey respondents indicating that they are now responsible for 18 functional areas within the scope of their organization’s treasury function.* In addition, SunGard’s recent cash management study revealed that 37 percent of corporates have increased their cash surpluses over the last year.
To address these challenges, the consolidated settlement and custody offering available to SGN customers will help treasurers efficiently manage larger amounts of cash and focus on multiple responsibilities by helping to reduce paperwork and eliminate the need for multiple fund applications, while increasing choices for investing excess capital.
Joseph Triarsi, managing director at J.P. Morgan Clearing Corp., said, “We welcome the opportunity to work with SunGard and provide services to support their worldwide network of corporate and institutional clients.”
Bob Santella, president of SunGard’s brokerage business, said, “By leveraging the clearing expertise, breadth of services and credit quality of J.P. Morgan Clearing, SunGard is able to expand its offerings to cash managers globally by further automating the short-term investment process. SGN helps cash managers be more agile and productive, by providing the tools they need to help improve workflows and reduce costs while helping to mitigate trade and credit risk.”
Used by treasury and investment specialists at corporations, hedge funds, public utilities, governments, colleges and universities, SGN Short-Term Cash Management is a global, short-term investment trading and connectivity solution that provides research, analysis, trading and reporting capabilities. In addition to net settlement, SGN provides a fully-disclosed, direct access model that offers additional transparency with individual fund providers.
Re-disseminated by The Asian Banker