SunGard Launch Independent Platform to Unify Short-term Instrument Trading
SunGard Financial Networks (FN) has released an enhanced version of its Transaction Network (STN) Money Markets service. The offering provides corporate and institutional investors with single-screen access to commercial paper, certificates of deposit and money market funds. Previously, STN Money Markets’ clients traded instruments separately, and via a combination of phone and stand-alone trading systems, according to SunGard FN. STN Money Markets’ customers will now have access to commercial paper and CD’s from more than 80 issuers, plus 100 money market funds from 25 different fund families. According to the company, key features of the service include single screen access to a variety of CP and CD offerings; comparison of real-time rates on short term investments and full disclosure and transparency, allowing investors to continue to benefit from ‘relationship credit’ when dealing with credit banks for money market funds.