So what does this mean to Sun's bottom line ?
Sun and SunGard Team Up to Deliver the First Financial Processing Solutions On Sun ONE
SANTA CLARA, Calif. and BEDFORD, Mass.--(BUSINESS WIRE)--May 28, 2002--
Sun and SunGard Securities Processing Meet Financial Services
Customers' Critical Processing Needs with Highly Reliable,
State-of-the-Art, Sun/Solaris Infrastructure
Building on their strategic alliance to bring best-of-breed, Web-based financial services solutions to the industry, Sun Microsystems, Inc. (Nasdaq: SUNW - News) and SunGard Securities Processing, an operating group of SunGard (NYSE:SDS - News), today announced the availability of two Web-based workflow/productivity solutions based on the Sun (TM) Open Net Environment (Sun ONE).
Together, Sun and SunGard are providing financial services customers with a tightly coupled, open and highly scalable solution to achieve the goal of straight-through processing.
As the financial services industry experiences increased trade volumes and shortened windows for nightly processing, customers are looking for solutions that can deliver immediacy, consistency and instant access to information, as well as greater operational efficiencies to reduce risk and better streamline clearance and settlement. Sun and SunGard are working together to provide a secure, reliable and highly available offering for the financial services industry based on Sun's interoperable, open architecture for delivering services on demand, Sun ONE whose foundation is the Solaris(TM) Operating Environment. SunGard's workflow/productivity solutions, StreamBridge and StreamEvents, are available today on the Sun platform and delivered on an application service provider (ASP) basis.
"Together, we're offering the financial services industry a solution that meets its transaction-oriented, time-sensitive needs, by providing an open and simple architecture that can enable customers to expand functionality and deploy applications quickly, while ensuring improved throughput and interoperability with their existing and new systems," said Doug Kaewert, vice president for the Sun Developer Network group at Sun Microsystems, Inc. "With Solaris as the foundation, financial services institutions can rest assured that their business-critical SunGard systems are in a secure environment that offers the highest degree of reliability and scalability."
SunGard Securities Processing offers solutions for real-time, Web-enabled portfolio management, clearance and settlement, accounting, and productivity tools for broker/dealers and banks, in an ASP environment. SunGard's StreamBridge and StreamEvents solutions are designed to enhance workflow and increase productivity. StreamBridge helps firms consolidate and control real-time interface messages from banks, clearing entities, depositories and internal systems in one centralized, browser-based system. StreamEvents is a Web-based event management system designed to facilitate faster resolution of exceptions by streamlining many of the manual, paper-intensive functions of operations and prioritizing user workloads.
"We've always been focused on providing our customers with innovative solutions. Sun systems and the Solaris(TM) platform provide world-class reliability, performance and stability, and we rely on Sun for its open standards-based approach and interoperability with incumbent systems to help us get our customers up and running quickly," said Doug MacFadden, senior vice president, strategic development of SunGard Securities Processing. "By utilizing the Sun ONE platform we're able to provide our customers with next-generation financial services that will bring them ever-closer to straight-through processing."
About Sun Open Net Environment (Sun ONE) architecture
Sun ONE, the integration of Sun's award-winning portfolio of software products, is Sun's vision, architecture, platform and expertise that enables the delivery and deployment of services on demand. Through its open, integratable architecture, Sun ONE extends current enterprise systems to help reduce costs and complexity while improving organizations return on assets. More information on Sun ONE is available at sun.com.
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision -- "The Network Is The Computer(TM) " -- has propelled Sun Microsystems, Inc. (Nasdaq: SUNW - News) to its position as a leading provider of industrial-strength hardware, software and services that make the Net work. Sun can be found in more than 170 countries and on the World Wide Web at sun.com.
About SunGard Securities Processing
SunGard Securities Processing provides real-time, Web-enabled portfolio management, clearance and settlement, accounting and operations workflow solutions for broker/dealers, banks and futures brokers. Provided in an ASP environment, SunGard's straight-through processing solutions are designed to lower transaction costs, reduce risk, adapt easily to industry changes and provide a competitive advantage. Additional information is available on the Web at www.securities.sungard.com.
About SunGard
SunGard (NYSE: SDS - News) is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. With annual revenues of $2 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
Sun, Sun Microsystems, the Sun logo, Sun ONE, Sun Fire, Sun Enterprise, Solaris and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. SunGard, the SunGard logo, StreamBridge and StreamEvents are trademarks or registered trademarks of SunGard Data Systems Inc. in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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Contact:
Sun Microsystems, Inc.
Terri Molini, 408/276-6105
terri.molini@sun.com
or
Sun Microsystems, Inc.
Terri Nissen, 650/786-9722
terri.nissen@sun.com
or
SunGard Contact:
Deborah Overdeput, 781/999-9020
deborah.overdeput@sungard.com |
