ABN AMRO Signs Multi-Million Global Deal With Infinity
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.RELATED LINKS
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