SunGard wins Asean trading tender

SunGard wins Asean trading tender

Sungard has won the tender to supply an electronic trading link between Bursa Malaysia, the Philippine Stock Exchange, Singapore Exchange and the Stock Exchange of Thailand.

The intra-Asean cross-border order routing and trading platform will electronically connect the markets of participating exchanges and allow investors and broker members to access multiple markets via a single connection.

Over two years in the planning, the four exchanges completed a technology design study and invited tenders from vendors in February of this year.

SunGard's submission centred around the use of the vendor's Valdi services suite, hosted over a central connection in Singapore. The Asean trading link will also be connected to the SunGard Global Network (SGN), so that global brokers and investors can send orders to participating members.

Hans Sicat, president and CEO of the PSE says: "The Asean trading link will facilitate global trades especially for retail investors seeking a bigger exposure in a fast growing Asean market."

The platform is expected to go live by the end of the first quarter of 2012, he says.

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