Nordea Bank Extends Use of SunGard's Risk, Trading and Securities Finance Solutions
February 10, 2010 — London, UK
Nordea Bank, a leading Nordic financial services group, is expanding its use of SunGard’s capital markets solutions for risk, trading and securities finance. A SunGard customer since 1987, Nordea will migrate its securities finance solution to SunGard’s Apex, a consolidated securities finance solution, to support its equity and fixed income securities lending and repo trading operations. It has also extended its use of Adaptiv Analytics, a risk analytics service offering a complete infrastructure of software and optional grid hardware and support, for high computation. Nordea also uses SunGard’s Front Arena for smart order routing and fixed income order management capabilities.
Nordea’s aim is to achieve the best possible technology infrastructure to help streamline its business activities, reduce market and operational risk, capitalize on business opportunities quickly and build up new product lines.
Peter Lunding, business chief information officer, capital markets products at Nordea, said, “SunGard’s alignment of the solutions in its capital markets suite has helped us to consolidate our trading and risk management systems and achieve a stable and effective technology infrastructure. SunGard understands our industry and the challenges we face and we have good cooperation.”
Christian Kromann, general manager, Nordics, for SunGard’s financial systems business, said, “The last two years have taught the industry important lessons about establishing tight processes and procedures. SunGard’s capital markets experience and solutions continue to help Nordea plan for the future and enhance their existing processing framework. Nordea’s use of SunGard’s solutions will help improve its ability to seize business opportunities, make smarter risk decisions and create competitive advantage while meeting regulatory requirements.”
Nordea is the leading financial service group in the Nordic and Baltic Sea area. Nordea has around 10 million customers, approximately 1,400 branch offices and a leading netbanking position with 5,9 million e-customers.
About SunGard’s solutions for capital markets
SunGard’s solutions for capital markets provide visibility into all business lines with a position control infrastructure for trading across asset classes and securities financing. The solutions support the entire trade lifecycle from execution to settlement, helping investment banks to manage global trading and financing functions.
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.
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 435 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 six times. For more information, please visit www.sungard.com
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
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