Operations Newsflashes: Banc of America Securities Picks SunGard for Reference Data Managed Service, and more

Banc of America Securities Picks SunGard for Reference Data Managed Service

Banc of America Securities (BAS) selected SunGard's referencePoint Managed Data Service, a managed service that's meant to solve problems with collecting and processing reference and market data for use across an enterprise. BAS will use the service to facilitate the collection, cleansing, formatting, enrichment, storage, management support and distribution of data to a variety of its downstream trading, order management, risk management and back-office processing systems.

"We anticipate referencePoint Managed Data Service will help to accelerate our time to market at a lower cost, and will help to provide ongoing efficiency and scalability as more financial institutions adopt the referencePoint service," states Roseann Palmieri, managing director, data management for BAS. Palmieri further adds in the release that the data service will help the brokerage firm integrate data into its existing data management platform, delivering information to front, middle and back-office applications, including mark-to-market information and corporate actions updates.

This follows SunGard's October 2004 announcement of BAS becoming a charter member on the referencePoint advisory panel, which SunGard established to help drive the development of the managed data service.

Xcitek Appoints Gyngell to Manage European Accounts for XSP

Xcitek hired Wendy Gyngell to serve as European account relationship manager for the company's XSP corporate actions system. Gyngell will be based in London. Her role includes providing strategic account management and support to the European market.

Gyngell previously held account management positions at Pershing Securities, peterevans, Thomson Financial, ACT Financial Systems/Misys Group and Synopsys.

According to the release, Gyngell will be responsible for building strategic relationships with the growing XSP European client base to identify and prioritize operational issues and future business requirements. Xcitek is a player in the corporate actions automation, market data solutions and operational staffing services.