SunGard Employee Benefit Systems Announces Straight-Through Processing of Equities Via the SunGard Transaction Network.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--Aug. 23, 2000 SunGard Employee Benefit 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. ) and a leading provider of retirement plan recordkeeping systems and services, announced that it has linked the OmniPlus recordkeeping system to the SunGard Transaction Network equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as service to provide real-time, 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 equity investments. Many plan sponsors offer employer stock or self-directed brokerage accounts as investment options in 401(k) plans. Through the SunGard Transaction Network, the trade execution and settlement process is real-time and completely integrated with back office systems. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. David Kennedy, president of SunGard Employee Benefit Systems, "401(k) investments are evolving to real-time, exchange traded investing. Self-directed brokerage investment options and other exchange-traded investments in 401(k) plans require direct, real-time links between the recordkeeping systems and brokerage systems. Responding to the requests of our clients, we have filled this need." About SunGard Employee Benefit Systems SunGard Employee Benefit Systems is a leading provider of technology and services for the retirement plan services market. SunGard's Omni suite of integrated-systems includes recordkeeping for defined contribution plans Defined contribution plan A pension plan whose sponsor is responsible only for making specified contributions into the plan on behalf of qualifying participants. Related: Defined benefit plan -- both qualified and non-qualified; checkwriting and pension 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. ; and, defined benefit plan Defined benefit plan A pension plan obliging the sponsor to make specified dollar payments to qualifying employees at retirement. The pension obligations are effectively the debt obligation of the plan sponsor. Related: Defined contribution plan administration. SunGard's Omni suite is used to administer over 30 million participant accounts in 10 different countries. Its clients include many of the of the world's largest financial institutions and retirement plan services providers. For further information, visit www.sungardebs.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 billion, SunGard serves more than 10,000 clients in more than 50 countries, including 47 of the world's 50 largest financial services institutions. Visit SunGard at www.sungard.com. Trademark information: SunGard, the SunGard logo and OmniPlus are 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. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion