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SunGard Investment Systems is spending more than $1 million to develop new components for its INVEST ONE system, which will accommodate the launch of the euro in January 1999. The first phase of the company's euro project-securities redenomination and foreign exchange realization components-is expected to be unveiled in April 1998, said Jack McArdle, senior v.p. The second phase, in September 1998, will launch the vendor's account redenomination component.
The securities redenomination component converts underlying securities into euros, said McArdle, while the fx realization component deals with gain and loss due to foreign exchange rates. He explained that when the euro...