Front adds back-office capability to Arena

Front Capital Systems, a Stockholm-based operating unit of Pennsylvania-based technology company SunGard, will finalise development of a new back-office capability next month that it will offer as part of its flagship trading system, Front Arena.

Front’s head of product management, John Mooren, told the back-office capability was an “add-on” to the company’s current front-office technology, but admitted that there were a number of “overlaps” in products offered by parent SunGard.

But Front’s back-office system will not handle clearing or general ledger accounting, and the Stockholm-based company has no plans to sell it as a stand-alone product.

Front will initially target smaller institutions that are less willing to support multiple interfaces required between a number of software and systems products offered by a variety of vendors. The idea is to automate reconciliation and help prevent costly manual errors. But Front also expects some larger firms to adopt the back-office add-on as they struggle to make their IT spends cost effective in the gloomy economic climate.

The back-office product will handle over-the-counter derivatives, foreign exchange and money market operations, offering straight-through processing for cash settlement, general ledge postings and trade confirmations.

Front has conducted several tests with small and large financial institutions to test its new back-office capabilities. Mooren said these tests have proven successful, but declined to name the institutions involved. He added that more than 50% of potential new clients had expressed an interest in the back-office product.

Development of the new back-office technology started in late 2001.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Chartis RiskTech100® 2024

The latest iteration of the Chartis RiskTech100®, a comprehensive independent study of the world’s major players in risk and compliance technology, is acknowledged as the go-to for clear, accurate analysis of the risk technology marketplace. With its…

T+1: complacency before the storm?

This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here