SunGard to link Jefferies' NY and London trading desks

SunGard to link Jefferies' NY and London trading desks

Jefferies International has implemented SunGard Trading Systems's Smart Brass trade order management system to enable the company to route and execute deals between its UK operations and its US affiliate.

The new system will interface with Jefferies' back office and settlement systems and provide complete STP for its London and New York trading operations. Smart Brass will also enable Jefferies to manage and maintain a common book structure between its London and New York operations with the ability for either office to view positions as well as access risk management services.

Jefferies & Company, the US subsidiary of Jefferies Group, is already a large user of the Smart Brass trade order management system in the US for Nasdaq and Listed trading. Jefferies' London trading desk will be using Smart Brass to route trades directly to the London Stock Exchange.

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