Update on Global One Agency Lending Disclosure of Principal (ALDOP) Functionality for Agent Lenders and for Borrowers

Global One ALDOP Phase II - Lenders
SunGard has enhanced the Global One Lender system to allow users to produce both the Daily and Non-Cash Data Files.  Users had the option of applying the upgrades to version 5.5.1 or 5.5.2.  Several Global One Lenders have upgraded and are involved in the industry testing.  Bi-weekly calls with corresponding minutes have kept the Lenders up to date, and have allowed discussion of various issues that have arisen throughout the testing phase.  Customized training on the Non-Cash Collateral Allocation and the corresponding Non-Cash Data File has been scheduled and completed with most clients.

Global One ALDOP Phase II – Brokers/Borrowers
Functionality is complete and ready for release to the Global One Brokers who plan to take advantage of the services provided by the SunGard Hub and who have additional non-Loanet trades and collateral on their Global One database. 

Brokers currently have the option of utilizing the SunGard ALDOP Management Application at the SunGard hub to process the Disclosure Incremental Files required for Phase I.  For Phase II, Loanet is providing further functionality including, but not limited to:

• Monitoring and authorization of the Lender’s Daily Files
  
• Receiving and validating of the Broker Dealer (Borrower) Daily Files
  
• Reconciliation of the files and the resulting reporting.
  
• Capital Computations
  
• Credit Analysis

The additional Global One functionality provides the Broker with the ability to create both the Broker Dealer Contract File and the Broker Dealer Collateral File in the formats required by Loanet.  These files have several new ALDOP flags, including flags to denote a Mixed trade, a Tri-Party trade and/or collateral item, a Collateral Remedy, and a Collateral Pre-pay (i.e. industry requirements for the files).  Further, for those Brokers processing LOC and Tri-Party collateral, functionality is available to identify the LOC and Tri-Party Bank ID BIC and/or DTCC numbers in addition to the specific LOC and/or Tri-Party Reference numbers.

In order to create this file and have access to the appropriate flags, users will be required to be on a minimum of Global One Release 5.5.1 (released mid 2005) and have licensed the module.  At the present time, eight brokers have licensed the module, and are in the process of upgrading and/or testing.

For questions on either the Broker or the Lender functionality within Global One, please contact Kathleen Leonard at 212-806-4903 and Kathleen.Leonard@sungard.com or Brenda Fischer at Brenda.Fischer@sungard.com.