SunGard today announced that Oppenheimer & Co. Inc. (NYSE: OPY) has expanded its commitment to SunGard's Brass Order Management System (OMS) with the addition of Brass listed trading functionality.
It has also elected to extend the Brass solution across its expanded U.S. equity capital markets desk, which it acquired in January of 2008. Oppenheimer & Co. Inc. ("Oppenheimer") is a full service investment firm that provides a full range of wealth management, securities brokerage and investment banking services to high net worth individuals, families, corporate executives, local governments, businesses and institutions.
Oppenheimer will use SunGard's Brass OMS on its listed desk to support trading of listed securities. Brass listed functionality is an integrated component of the Brass platform for U.S. equities trading, and also integrates with other order management systems to help provide seamless interaction between sales traders and comprehensive support for a firm's listed trading activities. Brass' listed functionality also encompasses risk management, order and trade management and consolidated record keeping, which provides users with comprehensive information to help efficiently work trade orders. The addition of listed functionality will provide Oppenheimer with a single order management system for both OTC and listed securities.
John Hellier, managing director, Institutional Sales and Trading for Oppenheimer, said, "SunGard has shown us tremendous commitment and is focused on helping us to continue to grow during a period of unprecedented change in the equities space. We are optimistic that by working with SunGard, we will be able to leverage its innovative solutions to continue expanding Oppenheimer's presence in the equity capital markets."
Satish Mujumdar, chief operating officer of SunGard's Brass business unit, said, "Working with our customers to help ensure their growth and security is the key to the sustainable customer relationships we build. It is not only our goal, but also our responsibility, to continue to introduce our customers to more efficient and cost-effective technology to help them grow more profitably."