SunGard and RBC Dexia Investor Services have co-developed an automated fund trading and settlement solution to allow customers of the technology provider to access and trade with around 9,000 additional funds available in Europe on RBC Dexia’s platform through a single connection.

The solution will include RBC Dexia’s fund trading Web portal providing trading automation, custody and daily net settlement integrated with SunGard Transaction Network’s (STN) Funds trade routing for funds in Europe and Asia.

STN Funds provides access to global mutual, UCITS and exchange- traded funds, and facilitates straight-through processing between fund companies and a variety of bank, brokerage and retirement recordkeeping and accounting systems.
 
Though the number of fund investments and fund choices grows worldwide, managing trading parameters specific to each fund makes trading funds a manual and costly process in Europe without a central trading and clearing entity.

With a single connection, STN Funds can help firms gain operational efficiency and reduce costs and errors and eliminate the need for customers to establish individual memberships with clearing entities and separate trading agreements.
 
Rob Wright, global head, product & client segments at RBC Dexia, said: “RBC Dexia’s collaboration with SunGard will help customers develop new products and expand into new markets by providing global coverage and product breadth to meet increasingly complex needs of global investors.”
 
Bob Ward, chief operating officer of SunGard’s wealth management business, said: “The integration of STN and RBC Dexia’s solutions will provide global businesses with a virtual international fund platform that offers product breadth for accessing mutual funds, UCITS and exchanged traded funds. The service will provide the streamlined connectivity and trading, straight-through processing and operational efficiencies financial institutions need to effectively compete and grow their businesses.”