A.P. Moller-Maersk Achieves Straight-Through Processing with SunGard's AvantGard; AvantGard Provides a Complete Treasury and Risk Solution.LONDON -- SunGard Treasury Systems, an operating group of SunGard (NYSE NYSE See: New York Stock Exchange :SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), today announced that A.P. Moller-Maersk, the largest corporate business in Denmark with 2003 net revenues in excess of DKK DKK In currencies, this is the abbreviation for the Danish Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 157 billion, has gone live with the first phase of a complete treasury solution delivered by SunGard's AvantGard. Maersk is using AvantGard for treasury and risk management, helping it to improve operating efficiency with straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. (STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. ) and direct connectivity to banks. It will next implement the IAS See iPlanet Application Server. 1. (computer) IAS - The first modern computer. It had main registers, processing circuits, information paths within the central processing unit, and used Von Neumann's fetch-execute cycle. 39 module. A.P. Moller-Maersk sought a complete treasury solution that would help it to streamline business processes, improve STP for financial payments, build a platform for IAS39 compliance and improve treasury management services with its business units. It decided to search for a third party solution rather than upgrade its existing legacy system. Maersk selected SunGard's AvantGard, including AvantGard-Quantum as its core treasury platform, AvantGard-Risk for risk management and AvantGard-eTX for secure real-time connectivity with the banks. Torben Winther, Maersk's director of treasury management, said, "We have just gone live on the first phase of implementing AvantGard, which includes risk management, transaction workflows, cash management and SunGard's AvantGard-eTX. Already we have seen tremendous benefits in terms of smooth business process and tight integration across the operation." He continued: "The main benefit to us is the impact we are getting out of AvantGard-eTX. The direct connectivity to banks, avoiding bank workstations and browsers, gives us immediate decision support capabilities." The A.P. Moller-Maersk treasury operation continues to expand its services into its worldwide shipping business, and the second phase of the project involves rolling out the AvantGard-eTreasury Browser for inter-company reporting. Plans are also underway to implement the IAS39 module. Martin Boyd Martin à Beckett Boyd (10 June, 1893 – 3 June, 1972) was a member of Australia’s most famous and prolific artistic dynasty of painters, sculptors, potters, writers, architects, graphic designers and musicians. , executive vice president EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. , SunGard Treasury Systems, said, "As Maersk is one of Europe's large enterprises, the AvantGard implementation project has been significant in applying the very latest technology, pioneering the integration between banks, corporates and technology vendor. In addition to the obvious cost benefits derived from the functional advantages of AvantGard, we have also lowered the future cost of ownership for Maersk in outsourcing the bank connectivity." About A.P. Moller Maersk The A.P. Moller-Maersk Group, whose headquarters are at Esplanaden, Copenhagen, employs over 60,000 people worldwide and has offices in more than 100 countries. The A.P. Moller-Maersk Fleet comprises more than 250 vessels with a total deadweight of about 12,000,000 tons and includes container vessels, tankers, car carriers, supply ships, special vessels and drilling rigs. Besides shipping, the A.P. Moller - Maersk Group is engaged in exploration for and production of oil and gas, shipbuilding, aviation, industry, supermarkets and IT services. For more information, visit www.maersk.com. About SunGard Treasury Services Treasury services is a function of an investment bank which provides transaction, investment and information services for chief financial officers, treasurers. Treasury services concentrates and invests client money, and provides trade finance and logistics solutions as well as SunGard Treasury Systems is a leading provider of treasury and risk management solutions. SunGard solutions offer Internet/intranet-based currency and commodity trading and risk management, while also integrating cash management and accounting functionality within a single environment. SunGard solutions provide a secure, real-time link between clients/subscribers and financial institutions and other treasury service providers, offering the straight through processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. of treasury transactions and information via Internet messaging. For more information, visit www.sungard.com/treasury. About SunGard SunGard is a global leader in integrated software Separate software components or applications that have been combined into one package. See integrated software package. and processing solutions, primarily for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 20,000 customers in more than 50 countries, including the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenue of $3 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo and AvantGard 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. |
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