SunGard's Protegent Assists Financial Services Firms in Managing New SEC Short Selling Rules

JERSEY CITY, N.J. , Oct. 6 /PRNewswire/ -- SunGard's Protegent suite of compliance solutions supports financial services firms' efforts in managing the temporary, emergency short-selling ban enacted by the Securities Exchange Commission (SEC) on the...


JERSEY CITY, N.J. , Oct. 6 /PRNewswire/ -- SunGard's Protegent suite of compliance solutions supports financial services firms' efforts in managing the temporary, emergency short-selling ban enacted by the Securities Exchange Commission (SEC) on the shares of more than 800 financial companies. Current Protegent customers are already equipped to rapidly comply with the order and closely monitor short selling trends of employees.

The latest release of Protegent PTA, an employee trading and code of ethics compliance solution, provides rule logic to help firms monitor and prevent short selling of securities of the publicly-traded financial services firms on the SEC's list. Protegent PTA's new "Restricted List by Activity Type" rule logic, as well as its existing short selling rule, helps firms to prevent the short selling of these securities. SunGard is providing a restricted list of the included financial firms to customers of the latest version of Protegent PTA that can easily be uploaded into the application, as well as issuing step-by-step documentation on how to configure, test, and implement the rule.

Protegent Trading Compliance, a compliance lifecycle and business management solution for institutional equities trading businesses, provides firms the ability to monitor all sell short customer orders for securities located on the threshold list. This information is archived, maintained for three years, and readily accessible within Protegent Trading Compliance. With this information readily available in one system, firms can perform their due diligence, research and surveillance on any short sale transaction in any security on a threshold list. Protegent Trading Compliance also provides the tools to monitor, research, and react to regulatory inquiries in a timely fashion.

SunGard's Protegent Surveillance, a software application for brokerage compliance, is able to highlight the potentially unsuitable activity associated with short selling and naked short selling, through its T + 1 alerting feature. As a rules-based compliance solution, Protegent Surveillance helps mitigate internal and regulatory risk by identifying questionable transactions and positions, improving field supervision processes and audits and analyzing client and account activity against firm defined mandates.

"Financial services firms consistently rely on SunGard to help them quickly adapt to volatile market conditions and corresponding regulatory changes," said Raj Mahajan, president of SunGard's Trading business. "Our customers can continue to depend on our ability to respond proactively to these changes to help them to maintain compliance and protect the interests of their firms and clients."

About SunGard's Protegent

SunGard's Protegent solutions for compliance, suitability and new account opening help retail and institutional investment firms oversee business processes relating to client acquisition and suitability, including Know Your Customer and OFAC list checking, as well as employees' personal trading and code of ethics, while helping reduce expenses and address regulatory requirements. Protegent supports supervision and practice, helps streamline the compliance life cycle, proactively monitors trades and provides comprehensive auditing and reporting.

About SunGard

With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.

Trademark Information: SunGard, the SunGard logo and Protegent are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.

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