Quadriserv grows relationship with SunGard, rebuilds board
08 May 2013 New York
Image: Shutterstock
SunGard has built on its relationship with Quadriserv and will now provide hosting services, operational support, and software development for Quadriserv鈥檚 AQS platform. The platform is a central counterparty-based securities lending marketplace.
This expanded relationship builds upon the prior integration of SunGard鈥檚 Loanet securities lending processing technology and Quadriserv鈥檚 AQS automated trading system, which supports straight-through processing of price discovery, central counterparty clearing, settlement and open loan contract maintenance.
鈥淥ver the years, we have enjoyed a productive and highly constructive relationship with SunGard based on the shared belief that technology, transparency, and a commitment to client service can drive meaningful change in the securities lending industry,鈥� said Pasquale Cestaro Quadriserv鈥檚 CEO.
鈥淲e鈥檝e made great strides in this respect, and look forward to an expanded relationship moving forward. Of equal significance, Quadriserv鈥檚 ability to leverage SunGard鈥檚 infrastructure, technology, and network resources will help us to achieve a key goal of reducing our operating costs.鈥�
SunGard first collaborated with Quadriserv in 2009, when both companies foresaw the opportunity for positive change in the securities lending industry said John Grimaldi, executive vice president of SunGard鈥檚 capital markets business.
鈥淪ince that time, our two companies have continued to integrate services to deliver innovative, productivity-enhancing technology and managed services to the securities lending industry, enabling our customers to operate smarter by helping increase efficiency and reduce costs."
Gregory DePetris, Quadriserv鈥檚 co-founder said: 鈥淪ince its inception, Quadriserv鈥檚 goal has remained constant: to bring transparency and efficiency to the securities lending industry.
"Our efforts in pursuit of this goal have included working with industry participants, both lenders and borrowers alike, to streamline and transform trading procedures while offering financing tools that can best benefit their firms. We are confident that our expanded relationship with SunGard will bring new energy, resources, and operational infrastructure to the AQS marketplace.鈥�
Quadriserv also announced a new investor and a rebuilt board of directors. Joining a roster of institutional investors which includes Bessemer Venture Partners, Interactive Brokers, International Securities Exchange, and Renaissance Technologies is private investor Rohit D鈥橲ouza. D鈥橲ouza, former CEO of Citadel Securities and former head of Global Equities at Merrill Lynch, will join the board.
Greg DePetris and Brian Traquair, president of SunGard鈥檚 capital markets business, will also be joining the remaining directors Pasquale Cestaro, Rob Stavis, Paul Brody, and Thomas Ascher.
This expanded relationship builds upon the prior integration of SunGard鈥檚 Loanet securities lending processing technology and Quadriserv鈥檚 AQS automated trading system, which supports straight-through processing of price discovery, central counterparty clearing, settlement and open loan contract maintenance.
鈥淥ver the years, we have enjoyed a productive and highly constructive relationship with SunGard based on the shared belief that technology, transparency, and a commitment to client service can drive meaningful change in the securities lending industry,鈥� said Pasquale Cestaro Quadriserv鈥檚 CEO.
鈥淲e鈥檝e made great strides in this respect, and look forward to an expanded relationship moving forward. Of equal significance, Quadriserv鈥檚 ability to leverage SunGard鈥檚 infrastructure, technology, and network resources will help us to achieve a key goal of reducing our operating costs.鈥�
SunGard first collaborated with Quadriserv in 2009, when both companies foresaw the opportunity for positive change in the securities lending industry said John Grimaldi, executive vice president of SunGard鈥檚 capital markets business.
鈥淪ince that time, our two companies have continued to integrate services to deliver innovative, productivity-enhancing technology and managed services to the securities lending industry, enabling our customers to operate smarter by helping increase efficiency and reduce costs."
Gregory DePetris, Quadriserv鈥檚 co-founder said: 鈥淪ince its inception, Quadriserv鈥檚 goal has remained constant: to bring transparency and efficiency to the securities lending industry.
"Our efforts in pursuit of this goal have included working with industry participants, both lenders and borrowers alike, to streamline and transform trading procedures while offering financing tools that can best benefit their firms. We are confident that our expanded relationship with SunGard will bring new energy, resources, and operational infrastructure to the AQS marketplace.鈥�
Quadriserv also announced a new investor and a rebuilt board of directors. Joining a roster of institutional investors which includes Bessemer Venture Partners, Interactive Brokers, International Securities Exchange, and Renaissance Technologies is private investor Rohit D鈥橲ouza. D鈥橲ouza, former CEO of Citadel Securities and former head of Global Equities at Merrill Lynch, will join the board.
Greg DePetris and Brian Traquair, president of SunGard鈥檚 capital markets business, will also be joining the remaining directors Pasquale Cestaro, Rob Stavis, Paul Brody, and Thomas Ascher.
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