Press Releases
Swedbank Selects SunGard’s Front Arena for Smart Order Routing
April 22, 2009 — London
Swedbank, a leading Nordic financial institution, has extended its use of SunGard’s Front Arena, a cross-asset trading solution, to help meet its smart order routing (SOR) requirements. Front Arena will help Swedbank to access liquidity across multiple markets, provide best execution services and manage client operations.
Liquidity fragmentation in the post-MiFID environment is putting pressure on organizations to adopt and implement sophisticated execution tools such as smart order routing engines. These engines can help firms to find liquidity on execution venues and dark pools in order to provide best execution for customers.
Front Arena already provides Swedbank with trading and execution capabilities, along with a rules engine which helps Swedbank to automate its order flow. The integration of Front Arena’s new smart order routing functionality with this rules engine will help ensure orders are executed effectively on multiple venues. It will also help the bank reduce operational risk by providing trading transparency in a multi-market environment.
Claes-Urban Dackberg, head of business enabling at Swedbank, said “It is important to gain maximum advantage from every trading activity executed. SunGard’s Front Arena smart order routing solution gives us an excellent platform to better manage our trading activity across numerous trading venues.”
Tim Dodd, head of product management for SunGard’s Front Arena business unit, said: “Front Arena’s smart order routing capabilities complement our existing rules engine and internal market functionality, delivering sophisticated order flow management. Front Arena will help Swedbank design order flows in the most efficient way, increasing capacity and execution quality. This demonstrates SunGard’s ability to provide solutions flexible enough to adapt to customer requirements.”
About Swedbank
Swedbank´s vision is to be the leading financial institution in the markets where we are present. Swedbank has 9.4 million retail customers and 600,000 corporate customers with 419 branches in Sweden, 278 branches in the Baltic countries and another 215 branches in Ukraine. The group is also present in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Moscow, New York, Oslo, Shanghai, St. Petersburg and Tokyo. As of December 2008 the group had total assets of SEK 1,812 billion and approximately 21,000 employees. For more information about Swedbank, please visit www.swedbank.com.
About SunGard’s Front Arena
A cross asset trading solution serving a range of financial institutions, SunGard’s Front Arena provides straight-through processing by integrating sales and distribution functions, trading capabilities, risk management, as well as settlement and accounting support. Market makers, brokers, risk managers and, institutional asset managers use Front Arena to trade equities, fixed-income, interest rate derivatives, and credit. Front Arena’s components can be configured to meet a variety of trading needs and scaled to support operations ranging from local to global. For more information, visit www.sungard.com/frontarena
About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world’s 25 largest financial services companies.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 472 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented five times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Front Arena are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.