To Provide multilateral trading facility platforms for brokers
SunGard, a provider of software and processing services for financial services, has completed the roll-out of new ASP-based managed access and smart order routing services for European equity trading platforms.
According to SunGard, the services are provided through a number of new ASP gateways built into its GL Stream and will provide its European brokerage customers with access to all trading venues. This will help SunGard customers capture a share of fragmented liquidity.
SunGard said that its GL Stream ASP managed access and smart order routing services will help brokers to trade on multilateral trading facility (MTF) platforms, comprising both public order books and dark pools.
SunGard claims that the GL Stream ASP services 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.
Vincent Burzynski, chief product officer of global trading business at SunGard, said: 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.