Press Releases
SunGard Expands Trade Execution and Clearing Services to European Markets
January 25, 2010 — London
SunGard today launched an electronic agency broker-dealer based in the UK to serve the European markets. SunGard is one of the first firms to offer sponsored access to European markets and will also provide high velocity direct market access, smart order routing, algorithms, and clearing and settlement services to high frequency trading firms and other market participants.
The European brokerage industry is characterized by continued liquidity fragmentation in the wake of MiFID, and rising execution costs. SunGard can help customers reduce their overall trading and infrastructure costs by monetizing order flow executed through SunGard’s execution and clearing services. SunGard also helps customers gain transparency into their trading process and improve efficiencies by automating the trade lifecycle.
SunGard already offers execution, risk management and clearing services to US trading participants. With the launch of these services in Europe, customers in the US and Europe will benefit from the experience and adaptation of an established model to help them access European markets easily and cost-effectively.
“The European equity industry is at a turning point and firms are finding it harder to access fragmented liquidity in a cost-effective way,” said Sang Lee, a co-founder and managing partner at Aite Group, a financial markets research and advisory firm. “Firms will benefit from using a technology-neutral broker-dealer to gain access to the market more efficiently. Utilizing a single provider for their broker-dealer, execution and clearing and settlement needs helps firms increase transparency into the trade lifecycle and achieve economies of scale and scope.”
Raj Mahajan, president of SunGard’s trading business, said, “Expanding SunGard’s global trading services enhances SunGard’s global network, providing access to more markets. With our new broker-dealer in Europe, SunGard can provide US and European customers with one access point to nearly 100 percent of displayed liquidity. This will help customers achieve best execution at a reduced cost. Offering a global integrated trading platform and execution, risk, clearing and compliance services, SunGard is able to automate and streamline every point of the trade lifecycle, helping our customers increase revenues, improve processing efficiencies, manage risk and reduce costs.”
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.
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 and the SunGard logo 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.
Trade execution and clearing services in UK and Europe are provided by SunGard Global Execution Services Limited - Authorized and Regulated by the Financial Services Authority * Registered in England and Wales No. 3127109 * Registered Office: 25 Canada Square, London E14 5LQ.
US Brokerage products and services provided by Assent, LLC, member FINRA/SIPC