STN Helps Small Banks Sell CDs to Major Firms

CONNECTIVITY

NEW YORK--Brokers using the SunGard Transaction Network (STN) can now directly acquire certificates of deposit (CDs) from a network of small community banks via an alliance with Denver-based Index Powered Financial Services (IPFS), officials say.

IPFS has operated an electronic bulletin board called QwickRate, on which 1,900 community banks posted their CD offerings, since the mid-1980s, says Robert Colvin, president and CEO of IPFS. But clients had to call in or fax their orders to the banks

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