Citibank and SunGard Join Forces to Provide Straight Through Processing Through SunGard's eTreasury eXchange.Business Editors CALABASAS, Calif.--(BUSINESS WIRE)--Sept. 5, 2002 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 Citibank e-Business, a unit of Citigroup (NYSE:C), is now an eTreasury eXchange (eTX) participant. Citibank is the first financial institution to provide a comprehensive range of cash and treasury management services through eTX to SunGard customers around the world. As a result of this joint offering with SunGard's eTreasury eXchange, Citibank provides seamless access to their cash and treasury management services to large corporations' domestic and global treasury functions. The first mutual customer of Citibank and SunGard Treasury Systems to benefit from this offering is a premier logistic lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation services company, which is already achieving straight-through-processing in their treasury operation by integrating bank account balance information into their cash positions. This enables the concentration of their cash positions and the execution of the necessary payment and treasury transactions. Simon Williams Simon Williams can refer to;
eTreasury eXchange is the service dedicated to corporate treasuries of the SunGard Transaction Network (STN (SuperTwisted Nematic) A passive matrix LCD technology that provides better contrast than twisted nematic (TN) by twisting the molecules from 180 to 270 degrees. See DSTN. ) for cash management between the corporations using Quantum, ICMS/TS, ResourceIQ(2) and GTM See Good-this-Month order. treasury solutions and Citibank. The joint offering provides Citibank clients with direct access to their financial information, integrated in real-time into their treasury management software, enabling them to optimize their liquidity position. "As Citibank is a trusted 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. provider to more than half of our clients, this relationship adds significant value by providing these clients with information and transaction services directly embedded Inserted into. See embedded system. into their own SunGard Treasury System applications," said Ken Dummitt, president, SunGard Treasury Systems. About Citigroup Citigroup (NYSE:C), the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex, and Travelers. Additional information may be found at: www.citigroup.com. About Citibank e-Business Citibank(R) e-Business provides solutions that empower corporations and financial institutions globally to connect to the Web, transform their business using Internet-related technologies and extend their reach to new markets. Our solutions support our customers as they integrate their Internet-based exchanges, software solutions, logistics, and financial services with existing, end-to-end, liquidity management, investment, cash management and trade finance processes. Additional information may be found at: www.e-business.citibank.com. About SunGard Treasury Systems SunGard Treasury Systems (STS (Synchronous Transport Signal) The electrical equivalent of the SONET optical signal. In SDH, the European counterpart of SONET, STS is known as STM (Synchronous Transport Module). ) is a leading supplier of treasury and risk management solutions. STS solutions offer Internet/intranet-based currency and commodity trading and risk management, while also integrating cash management and accounting functionality (including FAS 133 compliance) 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 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. of treasury transactions and information via Internet messaging. More than 1,400 STS clients worldwide, including over half of the Fortune 100, are using an installed SUNGARD system and hundreds more utilize the company's ASP offerings. 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 $2 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard and the SunGard logo 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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