About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

SunGard’s Brokerage and Clearance Solutions Primed for Options Symbology Initiative

Subscribe to our newsletter

SunGard has completed the required remediation and industry testing preparation of its brokerage and clearance solutions for the Option Symbology Initiative (OSI). OSI will help correct the limitations of an outdated symbology and overhaul the existing method of identifying exchange-listed options contracts to improve processing efficiencies and provide the ability to identify a broader range of listed options and more transparent linkage to the underlying securities by 2010. SunGard is also providing financial institutions with additional OSI support services to assist with remediation, internal and external testing and symbology mapping and conversion.

Gerry Murphy, president of SunGard’s brokerage and clearance business, said, “SunGard is a qualified and valuable resource for firms impacted by OSI, particularly those that have limited in-house resources, knowledge or technology. SunGard not only has provided evidence and certification of its own product support for OSI, but is also helping firms prepare for OSI across their organizations. In addition, SunGard’s ability to aggregate data from many unique sources using proven platforms provides an important mapping and conversion framework to help firms increase efficiencies and reduce costs.”

OSI remediation for SunGard’s Phase3 multi-asset securities processing solution, and GMI clearing and accounting solution for exchange traded derivatives, futures and options, have been completed and are ready for industry testing. The testing is scheduled to begin in September 2009 and continue for six months thereafter. SunGard has released the Phase3 and GMI enhancements to its customers and has completed user acceptance testing.

In addition, SunGard is offering a new cross-symbology mapping service to help firms alleviate the time and cost of reconciling old and new options symbols stored in firms’ existing systems. SunGard’s Cross-Symbology Service works in conjunction with third-party data and symbol suppliers to help provide more efficient processing and ensure an uninterrupted, normal flow of business. It leverages SunGard’s Stream data consolidation technology and Fame data management infrastructure, and can be used with any back-office, order management, portfolio or risk management system to help firms eliminate manual in-house processes and improve the speed, quality and completeness of their symbology coverage.

SunGard is also providing additional services for remediation and testing for SunGard and non-SunGard systems, certification, program management and dedicated services to help firms prepare for OSI. Using a proven testing framework, SunGard helps firms identify and remediate all OSI impacts and system dependencies throughout the firm’s trade lifecycle, and ultimately mitigate overall risk.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Hearing from the Experts: AI Governance Best Practices

9 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes The rapid spread of artificial intelligence in the financial industry presents data teams with novel challenges. AI’s ability to harvest and utilize vast amounts of data has raised concerns about the privacy and security of sensitive proprietary data and the ethical...

BLOG

Modern Data Landscape Comes Under Scrutiny at Data Management Summit London

From data products and marketplaces to the new challenges of regulatory compliance and the latest thinking on unstructured data, A-Team Group’s Data Management Summit London 2025 took in the full breadth of topics that chief data officers and their teams are dealing with daily. With a line up of C-suite executives and expert speakers from...

EVENT

AI in Capital Markets Summit New York

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Corporate Actions 2009 Edition

Rather than detracting attention away from corporate actions automation projects, the financial crisis appears to have accentuated the importance of the vital nature of this data. Financial institutions are more aware than ever before of the impact that inaccurate corporate actions data has on their bottom lines as a result of the increased focus on...