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Knight Clearing Goes Live with SunGards Apexsecurities Finance Solution
Published on Nov 30, 2010

Knight Clearing Services LLC, a subsidiary of Knight Capital Group, Inc., has chosen SunGard’s Apexsecurities finance solution for international securities lending and repo processing. Knight engages in market making and trading across multiple asset classes on behalf of buy-side and sell-side clients. Knight will use Apex to help process its international securities lending business as well as incorporate its fixed income repo business on a single platform, across front-, middle- and back-office operations.

Knight’s selection of Apex aligns with the firm’s clearing, securities lending and repo initiatives. Knight began using SunGard’s Loanet operations solution suite and Smart Loan front-office system for its US domestic stock loan business in 2009. With the addition of Knight’s international securities lending and repo business, the company required a real-time multi-product position management capability as well as a new platform for its fixed income repo desk. Using Apex with the SWIFT interface module, Knight will be able to process its fixed income repo and international stock loan business on a single platform.

Keith Babbitt, managing director and head of Global Securities Finance at Knight Clearing Services, said, “SunGard’s Apex will help us grow the business without system or cost constraints. The system’s robust functionality and scalability will give us the ability to use one consolidated platform to view and manage our securities lending and repo business operations, with the flexibility to evolve the platform to meet our changing business needs and requirements.”

Brian Traquair, president of SunGard’s capital markets and investment bankingbusiness, said, “To excel in the securities finance business, firms like Knight need to be able to streamline the full operational lifecycle of processing multiple securities finance transactions. SunGard’s Apex provides front-, middle-, and back-office processing of transactions, from securities borrowing and lendingto positions management, trading and repo, while providing a holistic view across multiple business entities, currencies and products.”**

Mandate details
Provider SunGard
Client Knight Clearing Services LLC
Mandate value n/a

Vendor name: SunGard
Buyer name: Knight Clearing Services LLC
Product name: Apexsecurities
Product type: Buy-Side Back and Middle Office | Buy-Side Front Office | Risk Management | Securities Lending and Repo | Sell-Side Back and Middle Office | Sell-Side Front Office | Trading Systems

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