SunGard Data Systems Inc. announced that the professional business bank Bridge Bank, a unit of the $829 million-asset Bridge Capital Holdings of San Jose, has begun processing transactions using SunGard's hosted Sierra system for foreign exchange trading and accounting.
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SunGard said Sierra is linked to Bridge Bank's wire request system, its Swift gateway, trading platforms and core banking system, helping to eliminate redundant data entry.
"As FX volumes and market volatility continue to grow, there is much more incentive to reduce trade processing costs," John Peckham, senior vice president and information systems manager at Bridge Bank, said in the vendor's press release Wednesday.
