CIBC Wood Gundy selects SunGard's WebPlaid PortfolioPlus as its Portfolio Management Platform.Business Editors TORONTO--(BUSINESS WIRE)--March 14, 2003 SunGard Online Investment 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. ), announced today that CIBC Wood Gundy CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc. by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. Canadian Imperial Bank of Commerce Chief Executive Officer: Gerald T. McCaughey | FY 2006 Statistics: Net income: $2. , the retail brokerage arm of the Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce TSX: CM NYSE: CM, better known to most customers as CIBC, is one of Canada's major banks. CIBC is classified as a Domestic Chartered Bank (Schedule I). , has signed a multi-year deal for use of SunGard front-office technology and will implement the WebPlaid PortfolioPlus contact and portfolio management solution for all its Investment Advisors (IA's). CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company IA's will upgrade to WebPlaid PortfolioPlus, the second-generation browser-based version of SunGard's contact and portfolio management solution. The agreement also includes custom development work associated with the Canadian market and CIBC's specific requirements. Development of these enhancements will be a collaborative effort involving both firms, and will focus on establishing full multi-currency capabilities, average cost calculations, enhanced multi-language features and special support for Canadian presentation standards. The solution also calls for the implementation of SunGard's AccessPlus, the Application Programmer's Interface (API) toolset that will allow CIBC to extract data from the PortfolioPlus database and integrate it with other applications or Web sites. "The new browser-based offering will help us reduce costs and deployment issues, in addition to providing easier access to the data for use in downstream applications," commented Mike Boluch, Senior Vice President and Chief Information Officer, Wealth Management Technology at CIBC. "The selection of SunGard's PortfolioPlus was a strategic decision for our firm. We've been very pleased with quality and support we've received from SunGard over the past few years, and are confident that this new solution will help our staff provide better service to their clientele." This agreement calls for the replacement of the portfolio management systems currently in use by CIBC Wood Gundy's combined 1,500 IA's and 1,200 support staff whereby upon implementation of the WebPlaid PortfolioPlus solution, all users will be installed on the common SunGard platform. "This project reaffirms CIBC's commitment to SunGard technology and our commitment to continually develop solutions to meet clients' needs," added Ed Evans, president of SunGard Online Investment Systems' front-office solutions unit. "It will also demonstrate our ability to provide a true multi-currency, multi-national product." WebPlaid PortfolioPlus is a Web-based portfolio management system and cost basis engine that offers a central server architecture, average costs and tax-lot accounting, corporate actions and transactions processing, and universal translation to back-office processing systems. It can be implemented as a pure processing engine or the data can be displayed through a browser-based contact management system on the broker's desktop. About CIBC Wood Gundy CIBC Wood Gundy is the retail division of CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Inc., the corporate and investment banking arm of the Canadian Imperial Bank of Commerce (CIBC). One of North America's first and largest financial institutions with offices in 18 countries, including the world's major financial centers, CIBC services more than eight million personal banking and business customers. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. , the United States and around the world. A publicly-traded financial services company (NYSE:BCM BCM Baylor College of Medicine BCM Become BCM Business Communications Manager (Nortel) BCM Broadcom Corporation BCM Business Continuity Management BCM Business Contact Manager (Microsoft) ,TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CM), CIBC has assets of US$180.9 billion and a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of almost US$11.2 billion. Find out more information at www.cibc.com. About SunGard Online Investment Systems SunGard Online Investment Systems provides integrated wealth management and front-office financial technology solutions for banks, brokerage firms and insurance companies. Back-office independent, SunGard Online Investment Systems integrates best-of-breed financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. , and rules-based engines with customer relationship management and portfolio management tools, aggregated account data, 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. , performance measurement, and market data to provide a complete range of portal and workstation solutions. SunGard Online Investment Systems provides both turnkey and custom Web- and wireless-based solutions to meet the needs of a financial institution's clients, brokers, advisors, and support staff. Visit SunGard Online at www.online.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 institutions. 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, WebPlaid PortfolioPlus and WebPlaid AccessPlus are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the US and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
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