BMO rolls out SunGards GlobalOne technology

Canada’s Bank of Montreal has expanded its offering of Sungards financial products and is now using the GlobalOne software for

Canada’s Bank of Montreal has expanded its offering of Sungards financial products and is now using the GlobalOne software for securities lending from its Toronto office.

Global One is a suite of securities finance solutions for trade processing, operations and reporting, which supports both brokers and lenders. Organizations use Global One and its real-time communications capabilities for the administration and management of international and domestic securities lending activities, including borrowing and lending, buy-backs and sell-backs and repos.

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According to Tony Venditti, managing director, Global Equity Finance, BMO Capital Markets, commenting in the release, BMO Capital has been using Global One in the firm’s New York and London offices for several years and adopted the system in Toronto earlier this year to consolidate their global securities finance operations onto one technology platform. “As we expanded our securities lending activity in multiple regions around the world, we’ve made it a priority to utilize advanced technology platforms that will help us meet our clients’ needs for timely and accurate reporting,” continued Venditti.”Consolidating onto SunGard’s Global One is helping automate our manual processes and providing enhanced reporting capabilities for both regulators and clients.”
In a prepared statement, Craig Costigan, EVP and general manager for SunGard’s Global One business unit, said, “As firms look to control the costs of their securities finance operations, SunGard’s Global One can help them increase efficiencies through a single global platform.”

Sungard has a wide range of products for financial services firms, Polish retail broker XTB signed up to Sungard Valdi product.

FXCM one of the largest retail FX brokers recently acquired regulatory status in Canada, amongst a handful of regualted brokers offering derivatives trading.

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