Banking and payments technology vendor FIS has completed its $9.3 billion acquisition of SunGard, marking a new chapter for the technology and services giant with many operations offerings for securities firms. The acquisition “uniquely positions [FIS] to offer a broad range of retail, enterprise and wholesale banking and payments capabilities that will further empower the… Read More >>
SEC to Respond to Op Risk Woes for Private Fund Advisors
Citing the SunGard Investone pricing crisis, SEC Chair Mary Jo White is clearly interested in the operational risk issues facing private fund advisors and stress tests and more will be forthcoming from the regulator, according to a speech she gave before the Managed Funds Association’s Outlook 2015 Conference in New York on Oct. 16. The… Read More >>
FIS CEO: SunGard’s InvestOne Woes Won’t Stop Acquisition
(Editor’s note: As the world learned in mid-August, financial products and services giant SunGard sidestepped an initial public offering as banking and payments technology provider Fidelity National Information Services (FIS) announced that it is acquiring the Wayne, Pa.-based vendor for $9.1 billion in a combination of stock and cash. FTF News checked in with Gary… Read More >>
BNY Uses New Instance of InvestOne to End NAV Crisis
Fund custodian BNY Mellon’s net asset value (NAV) pricing crisis is at a turning point as the firm installed over the weekend a new instance of the SunGard hosted InvestOne system at the heart of the problems that have plagued the bank’s U.S.-based exchange-traded and mutual fund clients over the past week. On Tuesday, September… Read More >>
Transparency and BNY Mellon’s NAV Crisis
Fund custodian BNY Mellon’s ongoing woes via its outsourcing to SunGard is causing many issues to come to a boil with the main one being the effort to restore service to clients that rely on BNY Mellon for accurate net asset value (NAV) pricing support. With the news on Monday, August 31, it looks as… Read More >>
BNY, SunGard Struggle to End NAV Crisis
Fund custodian BNY Mellon’s net asset value (NAV) pricing crisis appears to be ongoing as the firm stated that it will be working over the weekend to fix the problems caused by SunGard’s hosted InvestOne system. In the meantime, BNY Mellon is helping affected clients that offer mutual and exchange traded funds via contingency measures… Read More >>
BNY Mellon Still Grappling with SunGard InvestOne Outage
As of last night, BNY Mellon is reporting that it is still having system problems with the SunGard InvestOne platform that it uses for the processing of net asset values (NAVs) “of certain mutual funds and ETFs [exchange-traded funds].” In an online notice for Aug. 26, 10:30 p.m. ET, BNY Mellon reports: “The SunGard InvestOne… Read More >>
