Sungard's VMU Off Schedule But Still Alive

OPERATIONS AND STP

NEW YORK--Sungard's virtual matching engine did not enter production by the fourth quarter, as originally scheduled, but it still plans to eventually offer a virtual matching utility (VMU) and is currently preparing to file with the SEC for limited exemption, which is necessary before a VMU can go live.

At this time, Sungard does not plan to invest considerable effort and expense in the engine until there is sufficient demand for next-day settlement. Mark Volker, executive vice president of

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