Advantage Futures Goes Live on SunGard's GMI for High Volume Derivatives Processing.Business Editors CHICAGO--(BUSINESS WIRE)--Aug. 6, 2003 SunGard Futures Systems, an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon 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 Chicago-based futures commission merchant Futures commission merchant (FCM) A firm or person engaged in soliciting or accepting and handling orders for the purchase or sale of futures contracts, subject to the rules of a futures exchange and, who, in connection with such solicitation or acceptance of orders, accepts any (FCM FCM See: Futures commission merchant FCM See futures commission merchant (FCM). ) Advantage Futures LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control has gone live on SunGard's GMI GMI Governance Metrics International (New York, New York) GMI Giant Magneto-Impedance GMI Global MSF Interoperability GMI General Motors Institute GMI General Mills, Inc. to manage high volume back office processing and accounting of exchange-traded derivatives and futures. Advantage Futures, a newly formed FCM with a large professional trader client base, needed a scalable and reliable system to manage its derivatives and futures processing in a high-volume environment. In its first month of operation, Advantage Futures processed approximately 10 million contracts on GMI without requiring any infrastructure changes or additional costs. Advantage Futures is seeking to diversify and grow its client base to include both retail individual and institutional trading customers in the near future, for which it anticipates even higher processing volumes. "The robust nature of GMI allows us to maximize growth rate without having to grow our staff or add expense," said Jim Zellinger, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Advantage Futures LLC. "We wanted a long-term partner with real staying power in the market, and SunGard has proven its longevity and reputation in the industry. In addition, SunGard's and GMI's prevalence in the global futures arena has made staffing and training effortless, since many qualified professionals already are familiar with the system." GMI is a powerful back-office clearing and accounting software solution for the global exchange-traded derivatives marketplace. Clearing firms, securities firms, brokerage houses, emerging derivative players and the regionalized investment community rely on GMI every day for acquisition, processing, management, dissemination, integration and booking of all clearing and trade processing activities for any exchange-traded derivative. About SunGard Futures Systems SunGard Futures Systems provides software solutions and services to the world's exchange-traded derivatives markets. SunGard is a global leader in exchange-traded derivatives back-office solutions, serving a blue-chip client base of international investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. , global clearing firms, futures brokers and fund management companies. Additional information is available on the Web at www.futures.sungard.com. About SunGard SunGard is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of more than $2 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo and GMI 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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