SunGard Rolls Out New European Managed Access and Smart Order Routing Services
February 19, 2009 — London
has completed the roll-out of new ASP-based managed access and smart order routing services for major European equity trading platforms. The services are provided through a number of new ASP gateways built into SunGard’s GL Stream
solution and will provide SunGard’s European brokerage customers with access to all major trading venues. This will help SunGard customers capture a greater share of fragmented liquidity.
Liquidity fragmentation in post-MiFID Europe raises complex issues for all market participants. With new trading venues being created almost every month, trading decisions can become more difficult and connectivity costs can accumulate. SunGard’s GL Stream ASP managed access and smart order routing services will help brokers to trade cost-effectively on Multilateral Trading Facility (MTF) platforms, comprising both public order books and dark pools.
The GL Stream ASP services also deliver access to more than 30 European equity exchanges, and aggregate market data for each instrument from competing platforms. This helps GL Stream’s Smart Order Router (SOR) to drive order traffic according to the algorithmic strategy determined and updated by the customer. The services’ framework is designed to allow customers to try different platforms and trading approaches, helping them to make changes easily and cost-effectively.
Vincent Burzynski, chief product officer of SunGard’s global trading business, commented: “When deciding to go for SOR technology, a financial institution should consider the level of smartness and market connectivity it wants to achieve, as well as the ability of the solution to adapt to changing market conditions. SunGard’s ASP approach provides a cost-effective response to these needs, and builds on its experience in smart routing with brokerage customers in the UK, France, Italy and Switzerland. This new GL Stream ASP approach can help customers realize real benefits from their investment by leveraging SOR capabilities to trade on multiple MTFs.” About SunGard’s GL Stream
The GL Stream suite provides a comprehensive response to the challenges of global electronic trading. GL Stream ASP for Market Access is a fully managed and cost-effective solution for exchange connectivity, based on hosted and mutualized market gateways. GL Stream for Liquidity Management is a suite of capabilities for trading of instruments across multiple competing venues: exchanges, ECNs, MTFs, dark pools and in-house matching engines. About SunGard
With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 25 largest financial services companies. Visit SunGard at www.sungard.com
Trademark Information: SunGard, the SunGard logo and GL Stream 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.