SunGard's Front Arena Establishes Connectivity to Burgundy, Scandinavian MTF
London – May 19th 2009
SunGard announced that its cross-asset trading and order management solution, Front Arena, is now live with a connection to Burgundy, a multilateral trading facility (MTF) trading Nordic securities, authorized and regulated by the Swedish Financial Supervisory Authority. With the addition of Burgundy connectivity, SunGard’s Front Arena now has access to major liquidity pools in Scandinavia, helping to ensure that its customers are provided with the best possible execution opportunities.
The Burgundy trading facility is owned by leading Scandinavian banks and authorized securities trading firms. The system was launched on May 8, 2009, providing trading in equities listed in Stockholm, Helsinki, Oslo and Copenhagen. Front Arena’s smart order routing capability is an integrated component of the order management system which helps to extend an existing order routing setup to be truly multi-market.
Olof Neiglick, chief executive officer, Burgundy, said, "By connecting to our platform SunGard’s Front Arena will help improve its customers’ ability to achieve best execution. In the Nordic region Front Arena is handling large order flows; in fact many of our Nordic customers use Front Arena. Burgundy can help Front Arena customers reduce fees and achieve best execution."
Tim Dodd, head of product management for SunGard’s Front Arena business unit, said, "Connecting SunGard’s Front Arena to Burgundy will help our customers access competitive prices and lower purchasing fees on transactions. We worked quickly with Burgundy to help build the connectivity that will deliver added-value to our customers."
About Burgundy
Burgundy AB operates a multilateral trading facility (MTF) trading Nordic securities, authorized and regulated by the Swedish Financial Supervisory Authority. Burgundy offers a customer focused, high-performance and cost-efficient securities trading service to participants that will strengthen the Nordic region as a financial hub. Burgundy is owned by a consortium of leading Nordic banks and securities trading firms representing almost half of the trading volume in Nordic equities. Burgundy’s shareholders are Avanza, Danske Bank, Carnegie, DnB NOR, Evli Bank, HQ Bank, Neonet, Nordea, Nordnet, SEB, Handelsbanken, Swedbank, Ålandsbanken and Öhman. For more information about Burgundy, please visit www.burgundy.se.
About Front Arena
A cross asset trading solution serving a range of financial institutions, SunGard’s Front Arena provides straight-through processing by integrating sales and distribution functions, trading capabilities, risk management, as well as settlement and accounting support. Market makers, brokers, risk managers and, institutional asset managers use Front Arena to trade equities, fixed-income, interest rate derivatives, and credit. Front Arena’s components can be configured to meet a variety of trading needs and scaled to support operations ranging from local to global.
About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world’s 25 largest financial services companies. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented five times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Front Arena 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.