Stephen Yerkes
Stephen Yerkes

Sungard Sierra – a lesson in seamless connectivity

Seamless connectivity and STP are becoming increasingly important in the FX market. Stephen Yerkes, Director of ASP Services, Sierra, SunGard, explains what users should look for in a system that can meet these vital demands

First Published: e-Forex Magazine 35 / Viewpoint / April, 2009

The FX market is constantly growing in terms of volumes, participants and liquidity providers. Current estimates have average daily volumes nearing the $3 trillion mark as electronic FX trading continues to thrive. The events of September 08 and the liquidity crises have not affected the FX market to the extent that other markets have seen. In fact the FX market has benefited with the return of volatility, spreads have widened increasing the margin for traders.  The return of volatility has increased speculation as well as increased the need for hedging by the business community whose foreign revenues are now at risk.  For FX participants this growth in volume and volatility represents a serious systems challenge and an urgent need for greater connectivity and straight-through-processing (STP). Without a single, fully automated system that takes you seamlessly through from trade capture to accounting, firms may find that deals are dropped, positions do not reconcile, risk is not properly managed,...continued

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