Press Releases
SunGard Announces Formation of Global Trading Business
February 16, 2009 —
SunGard has announced the formation of its global trading business. This follows the completion of the acquisition of GL Trade and is the culmination of several months of integration initiatives between SunGard and GL Trade. SunGard’s global trading business will deliver a number of consolidated offerings across equity trading, market data, exchange traded derivatives and trading and risk management.
The new business is headed by Yassine Brahim, formerly chief executive officer of GL Trade. It is part of SunGard’s financial systems business, reporting to Harold Finders, division chief executive officer. Pierre Gatignol, co-founder of GL Trade, has been appointed strategy officer for SunGard’s financial systems business.
SunGard’s global trading business provides multi-asset, front-to-back trading solutions for equities, fixed income, derivatives, FX and commodities. The solutions it offers include: GL Net, one of the world’s largest networks for electronic trading and market data; MarketMap, a market data, news and analysis service; and GL Clearvision, a leading platform for clearing and allocation processes. Existing SunGard solutions such as Brass, GMI and the SunGard Transaction Network will also be integrated with parts of the global trading solution suite. This integration will result in a number of new customer offerings that will be launched throughout 2009.
Harold Finders, division chief executive officer for SunGard’s financial systems business, commented: “The acquisition of GL Trade and the formation of our global trading business is good news for SunGard’s customers. Yassine and his team bring to SunGard a strong solution suite, complementary geographical reach and a wealth of experienced people. This new organization will help extend SunGard’s leading position as a provider of global trading network and connectivity solutions for buy- and sell-side firms.”
About SunGard Global Trading
SunGard provides multi-asset, front- to back-office trading solutions for equities, fixed income, derivatives, FX and commodities on exchanges worldwide. These solutions support full lifecycle trading and trade processing activities including information services, market connectivity and order management that help improve trade efficiency and risk monitoring.
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, Brass, GMI and SunGard Transaction Network 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.
STN trade automation and connectivity services are provided by SunGard Global Execution Services Limited. Registered in England and Wales No. 3127109 * Registered Office: 25 Canada Square, London E14 5LQ - Authorised and Regulated by the Financial Services Authority, No. 469919