NEW YORK, Sept. 21 /PRNewswire/ -- Infinity, A SunGard Company today
announced that it has signed a multi-million dollar, multi-year deal with ABN
AMRO. The deal, Infinity's largest to date, extends the use of Infinity
Derivatives at ABN AMRO to additional sites and includes a comprehensive
consulting project. Infinity is the leading provider of enterprise solutions
for financial trading, risk management and operations.
The project will integrate ABN AMRO's proprietary functionality for
trading, risk management and operations into Infinity Derivatives main front,
middle and back office code line.
"ABN AMRO has enjoyed a close working relationship with Infinity since
1993. Infinity applications are currently rolled out to over 300 users world
wide in our Global Trading Unit," reported Sam Halim, president of ABN AMRO
Information Technology Services Co. "Over this period ABN AMRO has developed
proprietary functionality using Infinity's unique development tools and Data
Model, which will be integrated as part of the consulting project with
Infinity Professional Services," he explained. "The total deal results in a
reduced cost base to ABN AMRO while allowing users to benefit from latest
functionality and extensibility features of Infinity Derivatives."
"Infinity has given our traders a competitive edge in the development of
our proprietary and customer based Interest Rate Derivatives business,"
reported Rob van Paridon, chairman of ABN AMRO, Inc. "Deployment of additional
new features and the latest technology within Infinity Derivatives continues
to extend this advantage. For example Infinity FinEx, will enable ABN AMRO
traders to benefit from the rapid development and implementation of new
products straight into their trading system."
Infinity FinEx is a flexible module that permits interoperability between
Microsoft Excel and the Infinity Platform. Users may model a financial
instrument in Excel, which may be saved as a trade in the Infinity Data Model.
Analytics may also be added to the spreadsheet, which can be accessed by
Infinity's risk management applications.
According to Ron Lang, president and CEO of Infinity, "The ABN AMRO deal
represents a significant commitment to increased use of the Infinity system by
one of Infinity's oldest clients and we look forward to working with them even
more closely in the future." Lang continued. "This deal will also benefit our
larger client base as the ABN AMRO-driven functionality will be made available
as part of Infinity's standard product line."
Background information
ABN AMRO's Global Trading Units (GTUs) use Infinity's front, middle and
back office applications and technology platform to manage interest rate
derivatives transactions; approximately three hundred traders, risk managers
and back office staff use the Infinity systems on a day-to-day basis. Each GTU
uses the Infinity Derivatives' front office system for deal capture,
analytics, positions and hedge reports, reflecting both current exposures and
hedge transactions. The bank also maintains proprietary applications based on
the Fin++ Class Library to handle specific risk management reporting.
Each GTU maintains a comprehensive data mart based on the industry
standard Infinity Data Model running on Sybase. The bank's Infinity systems
run on UNIX servers connected to Windows NT clients.
About ABN AMRO Bank N.V.
Netherlands-based ABN AMRO Bank N.V. is the world's sixth largest bank*
with total assets of $480 billion and more than 3,500 locations in
76 countries and territories. In North America, ABN AMRO has $162 billion in
assets and more than 18,000 employees. Headquartered in Chicago, ABN AMRO has
banking offices 15 cities in the U.S., Canada and Mexico. Major North American
affiliates include ABN AMRO Incorporated, a full-service investment banking,
advisory and brokerage firm; ABN AMRO Asset Management (USA) Inc.; as well as
Chicago's LaSalle Bank N.A., LaSalle Bank FSB, Standard Federal Bank of
Michigan and EAB in New York.
* According to assets as reported in The Banker July 1999
About Infinity
Infinity, A SunGard Company, provides enterprise software solutions for
financial trading, risk management and operations. Infinity customers include
banks, asset managers, corporate and government treasuries of every size,
geographic reach and operational complexity. Infinity identifies emerging
standards early on and delivers innovative, modular, adaptable solutions and
enabling technologies. Infinity facilitates client success, mitigates
technology risk, and delivers rapid 'Time-to-Value' through Infinity
Professional Services, providing application implementation and integration
consulting. Infinity, A SunGard Company, is an operating unit of SunGard Data
Systems Inc., the only large specialized provider of proprietary investment
support systems and the pioneer and a leading provider of comprehensive
computer disaster recovery services. SunGard Data Systems common stock is
listed on the New York Stock Exchange under the symbol SDS. SunGard Data
Systems (NYSE: SDS) can be reached at http://www.sungard.com . Infinity can be
reached at http://www.infinity.com .
Trademark Info: SunGard, Infinity, the Infinity logo, Infinity
Derivatives, Infinity FinEx, 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.
SOURCE Infinity
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Related links:
http://www.sungard.com /Web
site: http://www.infinity.com
Company News On-Call:
http://www.prnewswire.com/comp/115467.html or fax,
800-758-5804, ext. 115467
CONTACT:
Samantha Howard of Infinity, 44-171 337
6072, or samantha_howard@infinity.com
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