Crowell, Weedon & Co. Adds SunGard Web Solution for Customer and Broker Internet Access.Business/Technology Editors BEDFORD, Mass.--(BUSINESS WIRE)--Aug. 22, 2000 SunGard Securities Processing, a leading application service provider of real-time, straight-through securities processing, announced today that full service retail brokerage firm Crowell, Weedon & Co. of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , California will go live with the Phase3 Customer Gateway Web solution. This will be rolled out to the firm's customers and correspondent brokers, in addition to the Phase3 System for securities 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. . Phase3 Customer Gateway, powered by SunGard's BrokerWare, is fully integrated with the Phase3 securities processing system and will provide Crowell, Weedon's customers with access to real-time information on their accounts, positions, balances, news, quotes, charts and research via a special Crowell, Weedon Web site. "Phase3 Customer Gateway enables us to extend the value of real-time information to our customers and correspondents, and continue to build on our customer relationships and broker productivity," said Andrew Crowell Andrew Crowell (born August 15, 1977) is a former Australian rules footballer who played in the Australian Football League. Career
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. at Crowell, Weedon & Co. "SunGard has the technology, the integration and the expertise to provide us with a complete end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. , day one, so there was nothing holding us back from launching this service immediately." Phase3 will process Crowell, Weedon's equities, options, fixed income, money market and mutual fund transactions on a single platform in a real-time environment, and will replace the firm's in-house system. The simultaneous Customer Gateway implementation marks Crowell, Weedon's first Internet launch initiative, and is scheduled to go live in early October. "At SunGard, we recognize the need for the brokerage industry to quickly implement integrated, complete solutions without the time and confusion of working with several different vendors," said Mike Nemerowski, president of SunGard Securities Processing. "Our focus is on delivering the capabilities firms need today, with a keen eye to the future, and Crowell, Weedon is an example of the fruition of that commitment." About Crowell, Weedon & Co. Founded in 1932, Crowell, Weedon & Co. is a full service stock brokerage and money management firm based in Los Angeles, California with 10 offices throughout the Southwest. As the largest independent investment firm in the region, it manages more than $7 billion in client assets. Crowell, Weedon serves the financial needs of individuals, families and leading businesses. About SunGard SunGard Securities Processing provides real-time, Web-enabled portfolio management, clearance and settlement, accounting, and operations workflow solutions for broker/dealers and banks. 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 competitive advantage. SunGard Securities Processing's flagship products include Phase3, BOLT 2, and InTrader. Additional information is available on the Web at www.sungardp3.com. SunGard Securities Processing is 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. ), a global leader in integrated IT solutions and eProcessing for 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. . SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity. With annual revenues in excess of $1 billion, SunGard serves more than 10,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. Visit SunGard at www.sungard.com. SunGard, the SunGard logo, and Phase3 are registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trademarks belong to their respective owners. |
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