Absa Capital, the investment banking division of Absa Bank and an affiliate of Barclays Capital, has deployed a new release of SunGard’s Front Arena global capital markets solution to handle the growth in its trading activities.
According to the SunGard, Front Arena provides position control across multiple asset classes and business lines, and provides Absa Capital with a consolidated cross-asset platform to manage increasing trading volumes.
SunGard said that the upgrade will help Absa Capital gain increased transparency throughout the trading and sales lifecycle, while also helping ensure pre-determined operational and desk level risk controls are adhered to across all books and products. In addition, Front Arena provides the firm with complete cross-asset coverage in a single system, which helps facilitate reporting and integration with other areas of the bank.
Ian Kriegler, chief information officer at Absa Capital, said: “The Front Arena upgrade also supports our initiative to streamline our operations and increase accuracy and consistency throughout the trading lifecycle.”
Juerg Hunziker, president of Front Arena and Adaptiv business units at SunGard, said: “By providing Absa Capital with a complete position control infrastructure, Front Arena can be configured to meet changes to Absa’s business workflow. As a result, Absa Capital has a technology solution that can grow and evolve to meet its future requirements.”