Adams Harkness, Inc. Converts to SunGard's Phase3 for Institutional Equities Processing.BEDFORD, Mass. -- SunGard Securities Processing, 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. ), announced today that Boston-based Adams Harkness, Inc. has gone live on SunGard's Phase3 securities processing system to outsource its U.S. equities transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , clearance and settlement. This multi-year contract for Phase3 will be delivered in an ASP environment. Adams Harkness is one of the largest independent research, brokerage and investment banking firms serving the institutional market. "Phase3 provides Adams Harkness with a more integrated, straight-through trade flow that helps reduce manual and redundant tasks, provides flexibility in the use of our data, and helps improve our efficiencies while containing costs," said Stephen Zak, chief financial officer at Adams Harkness, Inc. "Phase3 is well matched for broker/dealers like ours that are institutional focused and larger in size and scope." Adams Harkness uses Phase3's real-time interfaces with the Omgeo ALERT(SM) global database for settlement and account instructions and the Omgeo OASYS OASYS Open Architecture Synthesis Studio (Korg) OASYS Office Automation System OASYS Open Architecture System (advanced aviation system development) OASYS Orbit Analysis System OASYS Obstacle Avoidance System (SM) U.S. trade allocation and acceptance service, in order that information entered into OASYS is automatically updated in Phase3 in real-time, and name and address instructions are managed seamlessly between Phase3 and ALERT. In addition, Adams Harkness uses Phase3's real-time Replication Services to replicate information from Phase3 to the firm's internal systems for generating management reports as well as profit and loss (P&L) reporting on trading activity, for example, and performing ad hoc For this purpose. Meaning "to this" in Latin, it refers to dealing with special situations as they occur rather than functions that are repeated on a regular basis. See ad hoc query and ad hoc mode. search queries. "We are really happy to see a firm like Adams Harkness leverage the strength of our single database application that supports global processing," said Gerard Murphy Gerard Murphy is the name of the following people:
Headquartered in Boston, Mass. and with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and San Francisco, Adams Harkness is a privately held institutional investment bank focused on growth companies in the technology, healthcare and consumer sectors. Adams Harkness offers investment banking, institutional sales and trading, asset management, venture capital investment, and corporate wealth management services. About SunGard Securities Processing SunGard Securities Processing provides real-time, Web-enabled clearance and settlement, accounting and operations workflow solutions for broker/dealers, banks and futures brokers. Provided in an ASP environment, SunGard's 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. solutions are designed to lower transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , reduce risk, adapt easily to industry changes and provide a competitive advantage. Additional information is available on the Web at www.sungard.com/securitiesprocessing. About SunGard SunGard is a global leader in integrated software and processing solutions, primarily for financial services. 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 Phase3 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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