SunGard Trading Systems/Brass has released PowerNet, billed as the first independent equity order delivery network for securities dealers offering direct access to multiple market centre.
PowerNet will deliver orders for execution of all types of equity securities to ECNs, market makers or other trade execution venues, says SunGard.
The system additionally offers screen-based trading over the Bulletin Board markets, and will soon be extended for OTC Pink Sheets trading. Both markets are now generally executed by telephone and processed manually.
"PowerNet will provide a single point of access to execution systems of all types of equity securities worldwide," saysThomas King, president and chief operating officer, SunGard Trading Systems/Brass. "Our end goal is to create a single desktop trading system for all types of securities dealers in all types of markets on a global basis."