SunGard Treasury Systems has named Deutsche Bank as its first eTreasury eXchange sell-side participant.
The eTreasury eXchange initiative (eTX), which was unveiled in November 2000, links SunGard Treasury Systems' customer base to financial services providers for cash management, banking and transactional services.
Beginning this month, Deutsche Bank will be the first financial institution to provide online financial services to SunGard treasury management customers. eTX will provide the bank with direct access to SunGard's installed base through a secure network and via the Internet for corporate foreign exchange, trade request and execution.
SunGard treasury management users will be able to initiate foreign-exchange deal requests from within existing treasury applications and automatically receiving bid/offer prices directly from the Deutsche Bank platform. Confirmation and settlement will be handled automatically over the eTX platform.
Gary Bishop, president, SunGard Treasury Systems, says: "This marks our initial delivery of STP, and we are extremely pleased to have Deutsche Bank involved in this highly value-added endeavor."