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The $9.1 billion acquisition of SunGard Data Systems would deepen FIS' bench in banking and asset management services and add products for capital markets, dovetailing with banks' desire to narrow the list of companies that serve them.
August 12 -
FIS and merger partner SunGard, along with all other vendors in the space, have not been able to come to market with innovative core systems or software platforms that adequately address the new digital paradigm banks face.
August 18
Bank of New York Mellon Corp., a custody bank, is still working to provide closing prices for certain mutual funds and exchange-traded funds after a technology used to generate net asset values broke down on Monday.
The technology, provided by SunGard Data Systems Inc., started working again late Tuesday with limited capacity and is catching up, said BNY, which provides fund accounting to mutual fund and ETF providers.
"Our teams have been working together to clear the backlog," Kevin Heine, a spokesman for BNY, said in an interview. "We are working with SunGard to resume normal processing as soon as possible."
SunGard didn't respond to requests for comment. Guggenheim Partners, a provider of mutual funds and ETFs, had some blank net asset values on Aug. 25 that have since been posted for the Aug. 24 close, Ivy McLemore, a spokesman for the money manager, said Wednesday.
Global markets plunged Monday on concerns about China's economic growth.
