Bear Stearns Selects SunGard to Power e-Brokerage Business.Business Editors/Hi-Tech Writers NEW YORK--(BUSINESS WIRE)--Oct. 23, 2001 SunGard EMS, 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 Bear, Stearns Securities Corp., one of the world's leading securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the and brokerage firms, has chosen SunGard technology to power the retail e-brokerage operation of its correspondent business. Built on SunGard's robust, second-generation BrokerWare technology platform, the Bear Stearns' solution will provide unique, flexible online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. sites to more than 200 correspondent firms in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Along with seamless integration to existing back-office and order processing technologies, SunGard EMS will also provide a host of market data and Web-based services, including real-time quotes, alerts, advanced charting, and integration with third-party services. The solution will be hosted at SunGard's new data center in Mt. Laurel, NJ. "SunGard's robust feature set and efficient architecture will offer Bear Stearns' clients expanded and enhanced functionality, both in terms of content, customization and services offered," commented Bennett Egeth, senior managing director in the Global Clearing Services for Bear Stearns Securities Corp. "We're confident that the SunGard solution will give our correspondents a competitive edge in the rapidly consolidating brokerage market." As a custom-built solution, this large-scale project involves a mix of existing XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. messaging technology and professional services development. The solution will give Bear Stearns the ability to rapidly create, entitle, and launch individual Web sites, as well as customize the Web interface to provide a uniquely-branded site to each of its correspondent firms. "The Bear Stearns project represents a breakthrough for SunGard EMS," explained Richard Seguin, president, SunGard EMS. "While we've been servicing US clients for several years now, this latest deal gives us a tremendous boost both in terms of reach and visibility in the US." About Bear Stearns Bear, Stearns Securities Corp., a subsidiary of The Bear Stearns Companies Inc., provides clearing services for broker dealers and prime broker clients, including hedge funds, money managers, registered investment advisors, short sellers, arbitrageurs and other professional investors. BSSC BSSC Building Seismic Safety Council BSSC Battle Staff Support Center BSSC Blessed Spiritshot C Grade (Lineage 2 game) BSSC Block Signature Self-Checking BSSC Binary Skew Symmetric Channel BSSC Bpx Switch and Service Configuration processes approximately 200,000 transactions daily and clears securities in more than 70 countries worldwide. BSSC also provides clearing, operational and administrative services for registered broker dealers, members of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and/or the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). who engage in the retail or institutional brokerage business. About SunGard EMS SunGard EMS Inc. is an operating unit of SunGard Online Investment Systems. Based in Montreal, Canada, SunGard EMS has been highly active in the integration and automation of financial markets and networks for over a decade. SunGard EMS is considered a world leader in the development and implementation of online trading technology, and has developed solutions for some of the world's largest financial institutions. Visit SunGard EMS at www.ems.sungard.com. About SunGard SunGard (NYSE:SDS) is a global leader in integrated IT solutions and eProcessing for financial services. SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity. With annual revenues in excess of $1.4 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's largest 50 financial services institutions. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo and BrokerWare 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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