Barclays is handing over some of its regulatory reporting obligations and post-trade processing to SunGard of Wayne, Bobsguide reports. The move will help Barclays cut IT costs by 20 percent.
The decision to outsource post-trade processing activities is significant for Barclays and is triggered by the enormous amount of reporting and processing costs from new banking regulations.
Sungard told the reporter they can offer a more efficient way for banks and brokers to deal with the increasing demands of regulation. Read the story here.
