The nation's largest independent trust company believes it has found a portfolio accounting system that can handle an ever increasing workload while gaining Year 2000 readiness at the same time. Denver-based First Trust Corp. is replacing its legacy system with an updated version of SunGard Asset Management Systems' popular Windows-based Global Plus client/server solution.
First Trust administers more than 220,000 IRAs and business retirement plans with more than $14 billion in assets. And as the firm expects its number of accounts to grow to 250,000 by next year and continue to spiral upwards thereafter, the new system had to support an increasing transaction volume. Maximum scalability-an ability to handle ever larger loads-was mandated. Consequently, Global Plus was selected. It uses Oracle database software and an IBM RS/6000 server that can run multiple applications on multiple computers simultaneously.