SunGard Financial Networks is to provide connectivity between the SunGard Transaction Network (STN) and Visual Trader, the trading platform of Bolsa de Madrid.
Under the agreement, SunGard and Visual Trader Systems, the technology subsidiary of the Madrid Stock Exchange, will develop an interface to allow equity orders and associated messages to be routed seamlessly between brokers and their counterparties on both networks.
Jose Parga, Visual Trader Systems general manager, says: "Our users will now have an additional method of routing trades to international markets and for receiving orders for the domestic market using their existing Visual Trader network."
Currently, sixty Spanish institutions use Visual Trader to access the Bolsa de Madrid and major international stock exchanges.
The SunGard Transaction Network is a virtual network that facilitates straight-through processing between asset managers, brokers, ECNs, exchanges, banks, settlement agents and custodians.