SunGard's Omni and STN Ready Customers for SEC Rule 22c-2 Compliance; New Functionality Provides Standardized Data Reporting Capabilities for OmniPlus Customers.BIRMINGHAM, Ala. -- SunGard (http://www.sungard.com) today announced it will provide OmniPlus customers with an automated solution for complying with SEC Rule 22c-2 in advance of the SEC deadline. The SunGard Transaction Network 22c-2 Services, in conjunction with the OmniTrade Standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. Data Reporting (SDR See software defined radio. ) product, provides a fully integrated process for responding to fund company requests for historical, detailed trade activity. This solution for Rule 22c-2 compliance will be available to SunGard customers, including those that do not currently use OmniTrade or 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 trading purposes. The SEC adopted Rule 22c-2 in May of 2005, allowing fund companies to request historical participant level trade activity from recordkeeping intermediaries that produce omnibus omnibus: see bus. trades to research potential market timing violations. The rule goes into effect October 2006. A best practices task force, which was comprised of leading industry associations and committees such as the Investment Company Institute and The Depository Trust and Clearing Corporation Depository Trust and Clearing Corporation (DTCC) The Depository Trust and Clearing Corporation (DTCC), through its subsidiaries, provides post-trade clearance, settlement, custody and information services for equities, corporate and municipal debt, money market instruments, , produced the guidelines, "Standardized Data Reporting" for complying with Rule 22c-2. SunGard was an active participant on this task force and has developed a full-service, ASP solution - STN 22c-2 Services - that will be integrated with a number of trading systems The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. , including OmniTrade. Leveraging its network connectivity model, STN 22c-2 Services can help Omni customers achieve a seamless, 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. environment for complying with fund company requests for trade details. STN 22c-2 Services include secure data storage of participant-level trading activity, advanced analytics, automated communication with fund companies and administrative tools over a single, Web-based interface. OmniTrade SDR formats OmniPlus activity and transmits encrypted 22c-2 information to STN. Customers also have the ability to store participant level trading activity on-site and transmit an interface file to STN in response to fund company requests. "The SEC rule creates the potential for significant data transmissions to occur between fund companies and our customers' recordkeeping operations," says Don Mackanos, president of SunGard's Omni business unit. "The combination of new Omni functionality and STN 22c-2 Services will help our customers handle the intricacies of these new demands by storing, tracking, processing and reporting on detailed trade information." About Omni An integrated suite of products providing solutions for retirement plan administration, Omni encompasses: OmniPlus, a recordkeeping system that supports the administration of a variety of contributory pension plans contributory pension plan A pension plan in which the participating employees are required to support the plan with contributions. Compare noncontributory pension plan. in the U.S. and worldwide; OmniPay, a checkwriting and benefit disbursement DISBURSEMENT. Literally, to take money out of a purse. Figuratively, to pay out money; to expend money; and sometimes it signifies to advance money. 2. system; OmniDBEN, a recordkeeping system for defined benefit and cash balance plan administration; OmniTrade, a trading and reconciliation system for company stocks and mutual funds; and OmniOnline, a browser-based solution that integrates all of these applications for plan sponsors, plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. , call center representatives and third party administrators. Organizations worldwide process more than 30 million retirement plan accounts using OmniPlus. About STN A trade automation and connectivity solution, the SunGard Transaction Network (STN) links institutions throughout the 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. value chain, facilitating the purchase and sale of many security types, including U.S. and foreign, fixed income, mutual funds, money market funds, certificates of deposit and commercial paper. Integrated directly with SunGard systems and with third-party systems, STN helps automate the entire transaction lifecycle. Some 1,800 asset managers, 600 issuers and 210 broker/dealers are connected to STN. About SunGard With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com. Brokerage products and services offered by STN are provided by SunGard Institutional Brokerage Inc., member NASD/SIPC. Trademark Information: SunGard, the SunGard logo, Omni and STN 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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