SunGard extends Valdi to support BETa MTF

Source: SunGard

SunGard has extended its Valdi trading solutions suite to provide access to BETa, the European Multilateral Trading Facility (MTF) launched by the Budapest Stock Exchange (BSE) in November 2011 to serve retail investors.

BETa uses the BSE equity trading platform, and offers trading in foreign shares, with market makers supplying continuous liquidity. The BETa product range, initially restricted to Finnish, French, German and Spanish shares, is expected to be broadened in early 2012, with additional products to become available for trading.

SunGard's Valdi includes a range of execution tools such as algorithmic trading and smart order routing that help customers navigate the fragmentation in European markets resulting from the introduction of the European Union's MiFID directive. BETa represents a further step in the provision of wider access to European equity markets for retail investors, a development strongly encouraged by MiFID and now supported by SunGard. Valdi facilitates trading on global markets, including many emerging and frontier exchanges.

Ferenc Pittner, deputy chief executive officer of the BSE, said, "The BSE always seeks to provide its constituent members with new and attractive ways to capture order flow, and BETa is another way for us to facilitate blue-chip trading for our members and their clients. We are delighted that SunGard supports our initiative and we look forward to expanding our offering."

Philippe Carré, global head of connectivity for SunGard's capital markets business, said, "Offering access to BETa through Valdi will help our customers further develop their services for retail clients, which is an important focus as European markets seek to increase liquidity."

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