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RBC Correspondent Services Uses SunGard's Protegent to Deliver Compliance and Surveillance Services to Retail Brokers

SALT LAKE CITY, Oct. 14 /PRNewswire/ -- RBC Correspondent Services (RBC CS), a division of RBC Capital Markets Corporation, is using SunGard's Protegent Surveillance (http://www.sungard.com/protegent) to deliver compliance and surveillance functionality to its correspondent clearing clients as a core service offering. Protegent Surveillance is a comprehensive compliance and surveillance solution for financial services institutions. It provides users with trade-based compliance reviews that give firms an enterprise view of compliance performance and helps enhance users' ability to quickly assess risk. RBC CS has rolled out SunGard's Protegent T+1 trade blotter to help its correspondents manage their own risk and trade surveillance process, while keeping up with the latest regulatory rules.

Many small- to medium-sized broker-dealers struggle to obtain tools for risk management and regulatory oversight in a cost-effective and efficient manner. Additionally, they must quickly adapt to volatile market conditions and corresponding regulatory changes as they occur, such as the Securities and Exchange Commission's (SEC) recent emergency rule on short selling. SunGard's Protegent Surveillance is able to highlight the potentially unsuitable activity associated with short selling and naked short selling, through its T+1 alerting feature. As a rules-based compliance solution, Protegent Surveillance helps mitigate internal and regulatory risk by identifying questionable transactions and positions, improving field supervision processes and audits and analyzing client and account activity against firm defined mandates.

Protegent can be integrated with a firm's back-office clearing and settlement system to help provide brokers and financial advisors with an effective way of keeping up with regulatory requirements without requiring them to acquire surveillance and compliance tools on their own. RBC CS's correspondents have the choice of using the basic offering that provides Protegent's dynamic T+1 trade blotter designed to quickly identify and resolve a range of regulatory and business related exceptions, or subscribing to additional Protegent functionality that expands and customizes supervision, surveillance and regulatory compliance oversight and workflow.

Craig Gordon, president of RBC Correspondent Services, said, "By extending our services beyond trade clearing and settlement, we are able to be more proactive in helping our correspondents meet their business objectives. SunGard's Protegent is a key part of our ability to deliver added value to our clients, by providing powerful surveillance tools, which help them keep up with regulations. SunGard helps to give our clients peace of mind, while helping them maintain and strengthen their independence."

"Today's brokerage firms need efficient supervisory tools that help them assess risk quickly, increase productivity, and protect the interests of their businesses and their clients," said Steve Sabin, chief operating officer of SunGard's Protegent business. "RBC CS understands the impact for smaller firms to implement the right tools for risk management and regulatory oversight, and SunGard's Protegent is helping these firms to achieve greater consistency in managing risk and gaining the trust of their clients."

SunGard provides a diverse set of compliance and risk mitigation solutions that encompass risk management, surveillance, supervision, regulatory and ethics monitoring. Leveraging SunGard's Common Services Architecture (http://www.sungard.com/csa), compliance components can be rapidly deployed alongside or embedded within line-of-business systems and orchestrated to provide an enterprise-wide view. SunGard also provides regulatory and compliance consulting services that are designed to help senior executives at financial institutions assess the quality and substance of their risk and compliance programs.

About RBC Correspondent Services

Founded in 1979, RBC Correspondent Services, (RBC CS) a division of RBC Capital Markets Corporation, provides fully disclosed clearing and execution services to more than 170 independent broker-dealers throughout the United States. In addition, it offers a robust set of wealth management tools, training and technology, supported by exceptional Midwest-based service.

About SunGard's Protegent

SunGard's Protegent solutions for compliance, suitability and new account opening help retail and institutional investment firms oversee business processes relating to client acquisition and suitability, including Know Your Customer and OFAC list checking, as well as employees' personal trading and code of ethics, while helping reduce expenses and address regulatory requirements. Protegent supports supervision and practice, helps streamline the compliance life cycle, proactively monitors trades and provides comprehensive auditing and reporting.

About SunGard

With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.

Trademark Information: SunGard, the SunGard logo and Protegent 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.

SOURCE SunGard