Sungard-IBM Linux initiative gathering pace in APAC

Front Capital Systems and IBM have teamed up to develop Front's Linux-based financial services software for Asia-Pacific region customers.

Front Capital Systems develops pre-integrated solutions which handle straight through processing for equities, foreign exchange, interest rate and credit derivatives trading, and risk management for financial services companies.

As a division of Sungard Trading Systems, the company will integrate its Front Arena trading and risk management solution with IBM software and hardware platforms on Linux.

Specifically, SunGard and IBM are developing and marketing Front Arena products for IBM's WebSphere Internet infrastructure software running on the IBM eServer xSeries system on Linux.

This would help clients consolidate operations, increase performance and lower the cost of running the open source operating system, SunGard said in a statement.

Regionally, Commonwealth Bank of Australia, the Development Bank of Singapore and the Hypovereinsbank in Europe, which has offices across the Asia-Pacific, are some of the organisations that have deployed Front's Linux-based solutions.

Through its Linux initiative with IBM, SunGard is trying to address the needs of financial services' customers who are challenged by managing multiple front-office systems like risk management, compliance and trading. Often these systems are incompatible and expensive to operate.

IBM will lend its systems integration and application management expertise to Front customers. Also, Front will incorporate IBM's hardware configuration recommendations into its technical workshops for customers.

Front Capital Systems' head of global operations, Stephen Butcher, said SunGard's alliance with IBM gives the market "robust, Linux-based Front solutions that meet the scalability and cost objectives of leading financial institutions".

Figures on the cost of Front's Linux-based solutions were not available, but pricing will depend on the customer's requirements in terms of scale and the complexity of their environment, SunGard officials said.

SunGard has more than 20,000 customers in some 50 countries. The company claims it serves 47 of the largest financial services companies in the world, and has revenues of more than $US2 billion.

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More about APACCommonwealth Bank of AustraliaCommonwealth Bank of AustraliaCommonwealth Bank of AustraliaFinancial InstitutionsIBM AustraliaSUNGARD

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