SunGard's Loanet Centralized Order Routing Service Reaches Milestone for Daily Volume
SALEM, N.H.--Aug. 7, 2006--SunGard (http://www.sungard.com) announced today that its Loanet Centralized Order Routing (LCOR) service for automated securities borrowing and lending has reached a volume milestone of 100,000 borrow requests per day, representing $60 billion in daily requests for execution, about double the daily value of one year ago. In 2005, LCOR processed over 22 million borrow requests totaling $6 trillion for the year.Brian Traquair, president of SunGard's Loanet business unit, said, "We are seeing a steady increase in the number of participants using LCOR because of its accessibility, reliability and effectiveness. LCOR is a unique alternative to many of the manual, batch or bulletin-board style approaches available for borrow execution, and its ability to integrate with other systems extends its value even further."
Launched in 1999 and currently used by more than 65 borrowers and 50 lenders, LCOR is a free interactive message network that helps participants to submit requests to borrow, route unexecuted orders to multiple lenders, execute loan transactions, view multiple portfolios, and manage electronic borrow and loan order flow. The service integrates with SunGard's Loanet, Global One and WorldLend, and other securities finance processing and accounting solutions to help provide straight-through processing.
About Loanet
Loanet is a multifaceted solution for equity finance, serving broker-dealers, custodian banks, agent lenders, and other participants in the securities lending markets. Loanet provides a real-time interactive platform across which these participants can communicate and complete transactions, as well as software systems for order routing, order management, and accounting. Organizations use Loanet to automate securities borrowing and lending activities, helping to handle large transaction volumes efficiently.
About SunGard
With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education 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.
Trademark Information: SunGard, the SunGard logo, Loanet, Global One and WorldLend 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.