SunGard TreasuryTrader Goes Live at HDFC Bank

Business Wire, August 13, 2002

Business & High Tech Editors

CALABASAS, Calif.--(BUSINESS WIRE)--Aug. 13, 2002

SunGard Trading Systems, Global Markets, an operating unit of SunGard (NYSE:SDS), today announced that HDFC Bank Limited has gone live with TreasuryTrader, its high-volume trading system for Foreign Exchange and Money Markets.

HDFC Bank, which is a highly respected and profitable private bank in India, well known for their market leadership and high degree of financial product innovation, is using TreasuryTrader for FX and MM deal capture, position and limits management, as well as for down-stream interfacing into SunGard Trading and Risk Systems' Panorama for risk management. The project began in August of 2000, and was completed in 4 months, requiring less than 85 man-days. However, due to the number and complexity of interfaces among the various systems, the bank's rigorous testing policies, and the TreasuryTrader team's commitment to the customer's satisfaction, the actual go live date was delayed until July 15, 2002.

HDFC Bank has corporate trading desks situated in Delhi, Chennai, Calcutta, and Bangalore, which access Treasury Trader via Citrix. Corporate foreign exchange trading in India is very complex and creates unique needs for banks trading in this marketplace. Treasury Trader was flexible and configurable enough to achieve this. HDFC Bank will also be making extensive use of Treasury Trader's Trade Maintenance features to handle Pre-and-Partial-Settlement of FX trades - another common practice among these corporates. "With our growing business volumes, we required a front office system capable of efficiently processing larger volumes of foreign exchange transactions. Sungard's Treasury Trader system is designed to do just that," said Sudhir M. Joshi, Treasurer, HDFC Bank Mumbai.

Jim Davis, president of SunGard Trading Systems, Global Markets, said, "We worked very closely with HDFC Bank to ensure that the complex solution they required was delivered as promised. This project was a great opportunity for us to expand our coverage of the growing Indian financial marketplace."

About SunGard Trading Systems

SunGard Trading Systems offers integrated, straight-through processing solutions for trading, managing and reporting of equities, derivatives, interest rates, money markets, fixed income and foreign exchange. These solutions include online transaction initiation and order management systems, integrated trading, trade matching and accounting systems. Over 70% of Nasdaq trades flow through SunGard systems.

About HDFC Bank Limited

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an `in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry. The bank was incorporated in August 1994 in the name of `HDFC Bank Limited', with its registered office in Mumbai. The bank commenced operations as a Scheduled Commercial Bank in January 1995.

About SunGard

SunGard (NYSE:SDS) is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. With annual revenues of $2 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.

Trademark Information: SunGard, the SunGard logo, Global Trader and TrueCalc are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.