FXall and SunGard to Offer Money Market and FX Services to Customers
FXall, an electronic foreign exchange (FX) platform, and SunGard are offering money market funds (MMFs) to FXall clients and FX services to customers of the SunGard Transaction Network (STN). These enhancements give customers the ability to access money market investments and FX trades from a single platform.
The connectivity between the two platforms gives FXall clients the ability to trade MMFs directly through their current browser interface using SunGard’s STN money markets portal, a global, multi-currency trading and connectivity solution for institutional money market investors, such as corporate treasurers and hedge funds. This provides a centralised, automated source to buy and sell shares in institutional MMFs, and gives corporate treasurers the ability to research, analyse, trade and report on more than 240 money market funds.
In addition, SunGard has enhanced its STN money markets portal to provide customers with access to FXall’s market leading FX trading solution. This helps customers take advantage of a broad range of FX products and trading strategies, and a deep pool of liquidity, while meeting their best execution and workflow management needs.
Kevin Rafferty, president of SunGard’s wealth management business, said: “With significant growth in demand for FX trading services amongst corporate treasury and money market fund managers, the ability to trade FX is especially important for multinational organisations looking to expand upon their currency trading and get the most out of their excess capital investments. These organisations require greater diversification of their short-term investments from one reliable platform, and unlimited access to an extensive range of both on- and off-shore money market funds.”