SunGard announced that its Loanet Smart Loan is now integrated with Quadriserv's AQS, allowing customers to have greater control over order management and inventory functions, as well as helping to avoid dual usage of securities available for lending.
SunGard said the integration also means that all AQS orders can be initiated and maintained from within Smart Loan. Bruce Turner, president and COO at Quadriserv, commented: "SunGard has been an ideal partner as we continue the rollout of Quadriserv's AQS market. Together, we have successfully integrated front-end access for Smart Loan customers, and can now provide full integration with inventory and trading systems. As a result of this integrated link, loans executed through AQS will receive straight-through processing treatment consistent with existing OTC protocols, helping create significant efficiencies for users."
John Grimaldi, EVP and general manager of SunGard's Loanet business unit commented: "SunGard's Loanet customers have responded favorably to the first phase of our integration with the AQS securities lending market, which includes seamless access to AQS' liquidity and price discovery mechanisms. We are confident our customers will also respond favorably to our next set of initiatives with AQS, featuring greater trading and inventory control."