The systems integration will provide Loanet customers with ready access to AQS, Quadriservâs regulated centralized and transparent securities lending marketplace. Transactions matched on AQS are processed through The Options Clearing Corporation (OCC), which provides central counterparty guarantees and trading anonymity.
John Grimaldi, executive vice president and general manager of SunGardâs Loanet business unit said, âFor several years we have been closely monitoring the evolution of the securities lending market towards both greater operational efficiencies and a central counterparty structure. This collaboration with AQS advances our efforts on both fronts, as our mutual customers will benefit from enhanced Loanet services and access to Quadriservâs AQS securities lending marketplace.â
"AQS is committed to an open-door partnership policy, which we believe will facilitate access to the AQS marketplace from the broadest range of industry participants,â commented Gregory W. DePetris, Co-Founder of Quadriserv. âThe strategic initiative with SunGard â and the integration of the AQS marketplace with SunGardâs Loanet suite of securities lending solutions â embodies this approach. We are pleased to formalize this collaborative relationship with SunGard, and look forward to our continued work with them to deliver innovative, productivity enhancing technology to the securities lending industry.â
SunGardâs Loanet and AQS will deliver increasing levels of functional integration for their mutual clients over the coming months. These enhancements include further improvements to operational efficiencies and trade automation, and ultimately support for straight-through processing and multi-product integration.