Press Releases
SunGard Broadens European Market Connectivity with NYSE Arca Europe
September 9, 2009 —
SunGard and NYSE Arca Europe have agreed to a partnership that will allow SunGard to offer customers of its ASP-based connectivity services access to NYSE Arca Europe, NYSE Euronext’s multilateral trading facility (MTF). SunGard’s ASP-based connectivity services help trading firms access and trade on NYSE ARCA Europe and support multi-venue trading strategies in the increasingly fragmented European equity markets.
The partnership to facilitate member connectivity will allow SunGard customers not yet trading on NYSE Arca Europe to connect to the platform at no additional fee for an initial period.
SunGard’s ASP-based connectivity services already deliver hosted access to eight European MTFs. As part of these services, SunGard’s GL Stream suite aggregates market data for each instrument from competing platforms. Its smart order router then routes order traffic according to the algorithmic strategy determined by the customer in accordance with best execution obligations.
Virginie Saade, head of NYSE Arca Europe, commented: “Building partnerships with leading service providers to help ensure a smooth connectivity process for our clients is a key step forward in building our business across Europe. We are delighted to enter this partnership with SunGard. Their ASP-based connectivity services are an excellent solution for trading firms. We are confident that our partnership with SunGard will help us to reach new customers.”
Vincent Burzynski, chief product officer for SunGard’s global trading business unit, added: “One of the challenges faced by European financial firms is to determine which liquidity pools to trade on. Ideally, they need to test the liquidity pools and then select the most appropriate to reach their business goals. SunGard’s ASP-based approach provides a cost-effective response to this need. The services’ framework is designed to allow customers to try different platforms and trading approaches, helping them to make changes easily and cost-effectively.”
About NYSE Arca Europe
NYSE Arca Europe is NYSE Euronext's pan-European Multilateral Trading Facility (MTF), providing customers with low-cost, high-speed access to the most liquid European stocks from eleven countries. NYSE Arca Europe's offering is unique due to its integration with NYSE Euronext, combining the flexibility of an MTF with the trading expertise and resources of a leading global exchange. Featuring a central order book, NYSE Arca Europe is operated on NYSE Euronext's market-leading Universal Trading Platform, with a latency measured as low as 40 microseconds, averaging 140 microseconds (internal roundtrip) and the capacity to handle 100,000 orders per second.
For further information, please visit: www.nyse.com/arcaeurope
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 mutualised market gateways. GL Stream for Liquidity Management helps enable trading across multiple competing venues: exchanges, ECNs, MTFs, dark pools and in-house matching engines.
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 six 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 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.