OPERATIONS

SunGard eProcess Intelligence, an operating unit of SunGard, announced that Dexia Bank Belgium has selected intelliMATCH EP to consolidate automatic processing, reconciliation, and exception processing of: cash-nostro accounts, trades and holdings, FX and money-market confirmations, corporate actions, coupons, and static data, on one platform. intelliMATCH EP will replace its existing reconciliation systems to consolidate automated reconciliation and will provide a new facility for exception processing on a single platform.

Emerging Markets Clearing Corporation will begin processing corporate-debt issues from more than 50 emerging markets, following approval last week by the U.S. Securities and Exchange Commission. EMCC offers trade comparison, netting, settlement processing and risk-management systems that guarantee cross-border trades will be settled accurately. EMCC already provides these services for Brady bonds and other sovereign and quasi-sovereign debt issues.

Shadow Financial Systems, a provider of integrated back-office systems to the capital-markets industry, announced the successful implementation of ShadoSuite at Raymond James (Financial) & Associates, member New York Stock Exchange/SIPC. Raymond James chose Shadow to support multi-currency trade processing, clearing andsettlement for international transactions.

Milan-based UniCredit Banca Mobiliare, part of UniCredito Italiano Group, Italy's largest investment bank, completed updating its existing front-to-back Summit infrastructure. The bank has added the latest real-time STP capabilities, real-time hedging, credit and commercial-lending-instrument support, and a new Internet toolkit. The bank's new STP operations software will use Summit's real-time, event-driven trade-processing capabilities.