Jyske Bank’s 24-hour FX Desk Goes Live with SunGard’s Front Arena

Jyske Bank, Denmark’s third-largest independent bank, has extended its use of Front Arena, SunGard's global solution for position control across multiple asset classes and business lines. This extension will provide Jyske’s 24-hour foreign exchange spot trading desk with real-time positions, P&L and risk management. It will also support the bank’s corporate sales desk activities.(Vocus) December 8, 2009 -- Jyske Bank, Denmark’s third-largest independent bank, has extended its use of Front Arena, SunGard's global solution for position control across multiple asset classes and business lines. This extension will provide Jyske’s 24-hour foreign exchange spot trading desk with real-time positions, P&L and risk management. It will also support the bank’s corporate sales desk activities.Front Arena helps Jyske to manage its positions and risk for a wide variety of FX instruments through the provision of a single platform for all its trading activity. This helps Jyske ensure that it has transparency, and helps reduce the risks that can occur when operating more than one system. Jyske went live on the system on the 29th November, with the FX trading capabilities added to the bank’s use of Front Arena for interest rates, fixed income and equity trading.Prior to the transition, Jyske had used an in-house developed browser-based solution, which was loosely integrated with the rest of its dealing activity. Front Arena helps Jyske to improve its position and risk management capabilities across all trading activity, to manage its growing trade volume, gain a consolidated view of all its positions, effectively service its clients and automate the flow to back-office processing.Lene Hjortshøj Papsø, head of trading at Jyske Markets, said, “SunGard’s Front Arena will support all our FX trading requirements, and give us connectivity to the other trading desks. SunGard was able to help us achieve our timelines and we are pleased with the smooth and efficient way the project brought the FX functionality into our live operations of course in good cooperation with the project group in Jyske Bank. Front Arena helps us to streamline our operations across asset classes, and the real-time position control tools it offers provide information to help us assess and manage risk effectively.”Paul Hodgson, product manager for Front Arena at SunGard’s capital markets and investment banking business, commented, “SunGard’s Front Arena helps customers to build a true cross-asset class platform - extending from low volume exotic transactions all the way through to the high volume dealing activities of the FX and cash equity markets, including exchange connectivity and order management. Having an expert team in SunGard able to understand the needs of our customers across the full range of financial instruments and trading desks makes deployments like this possible. We build solid relationships with our customers by delivering solutions to help improve the efficiency of their operations.”About Jyske Markets: Jyske Markets is the financial trading centre of the Jyske Bank Group, trading, amongst others, Equities, Bonds, FX, Commodities and providing Macro Economic analyses. www.jyskebank.dk. All FX trading activity is run from this global hub on a 24 hour trading basis.About Front Arena: SunGard's Front Arena is a global capital markets solution that delivers position control across multiple asset classes and business lines. Integrating sales and distribution, trading and risk management, and settlement and accounting, Front Arena helps capital markets businesses around the world improve performance, transparency and automation. Find out more at www.sungard.com/frontarenaAbout SunGard: SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.comTrademark Information: SunGard, the SunGard logo and Front Arena 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.###Read the full story at http://www.prweb.com/releases/2009/12/prweb3312194.htm.