Pierpoint selects SunGard for securities management
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Pierpoint selects SunGard for securities management 08 July 2014Texas Reporter: Catherine Van de Stouwe
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Pierpoint Securities LLC has selected SunGard’s Loanet to help manage its expanding securities finance operations, including trading, inventory management, accounting and settlement.
To help Pierpoint achieve growth and reduce the total cost of ownership, in front office trading and back office operations, SunGard offered a fully integrated solution to streamline trade processing.
By streamlining, operations would be simplified and consistent up-to-date information would be provided. The solution would also adhere to regulatory reporting requirements.
Bruce James, COO of Pierpoint, said: “We needed to identify a service that would support the expansion of our financing capabilities into securities lending.”
“Choosing a solution that is delivered as a service, such as SunGard’s Loanet, enables us to efficiently grow our securities lending business and interface with our clients effectively for functions such as trade matching, processing, automated margin and securities settlement for our securities lending business transactions.”
John Grimaldi, president of SunGard’s North American securities operations and securities finance, added: “As a growing company, improving efficiency and productivity with a comprehensive solution is critical as Pierpont continues to expand its service offerings to institutional and middle market fixed income investors.”
“Through our market vigilance and close working relationships, we strive to ensure our customers are provided a reliable and effective solution that reflects the continually changing regulatory and market needs.”
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