City Networks, provider of software and services to the treasury, securities and derivatives markets, announced that the company has upgraded its CityNet Enterprise Reconciliation Module (Insight). The system provides City Networks customers with the ability to reconcile data between internal systems, such as front-office, middle-office, back-office, general-ledger and risk-management systems, as well as providing them with the ability to reconcile cash and securities in custody.
The Depository Trust & Clearing Corporation introduced the first in a series of new mutual-funds-processing capabilities to support fund companies, broker/dealers, banks and other distributors involved in marketing cross border investment funds. Using its Fund/SERV platform, DTCC, through its subsidiary, National Securities Clearing Corporation, will offer customers enhancements that eliminate many manual processes that exist in the marketing and processing of the funds based in the European cross-border centers of Luxembourg and Dublin.
SunGard Securities Processing, an operating group of SunGard, announced that Penson Worldwide, Inc., will use SunGard's STN Settlements for its London-based affiliate, Penson Worldwide Settlements, Ltd. STN Settlements is an automated clearance and settlement service that connects custodians, broker/dealers, banks and futures-commission merchants to custodians, depositories and clearing institutions for trade comparison, reconciliation, clearance and settlement.
Also, LaSalle Bank recently expanded its relationship with SunGard Asset Management Systems, an operating group of SunGard, to help facilitate its straight-through-processing initiative. LaSalle chose SunGard's real-time, STP, asset management, custody services, and trust accounting Global Plus platform as its technology solution.