SunGard has integrated its SunGard Transaction Network (STN) with Japan-based trading hub, MetaBit.
This will help SunGard's buy-side and sell-side customers automate their trading connections with institutions in the Asia-Pacific region thereby helping improve integration, automation and connectivity of the international trade lifecycle.
Based in Tokyo, MetaBit is Japan's only provider of a pure local FIX trading hub providing bilateral order flow for cash equities, index futures, options, and commodity futures, giving buy-side institutions direct electronic access to 34 brokers and ten exchanges.
STN facilitates global execution through a single point of access and the integration with MetaBit now provides bilateral links to each other's regional trading communities from their home markets. In addition, SunGard's Brass, an integrated sell-side trade and order management solution suite, will use STN to provide its U.S. brokerage customers with distribution access to global investment managers.
In the past, institutions used multiple networks to reach various regional pockets of trading. Today, more wealth managers are trading internationally and investing in Europe and Asia-Pacific. STN's comprehensive regional coverage through hub-to-hub connectivity between regions and countries helps eliminate the need for buy-side institutions to maintain separate network connections in these regions. STN provides one connection that offers real-time trading and also uses industry standards such as SWIFT and FIX protocol formats, as well as proprietary trade messaging formats to help maintain operational efficiency.
"Connecting MetaBit's MLH FIX network with SunGard's STN creates a powerful value proposition for MetaBit's Japan and Asian customer base to trade in U.S. markets. At the same time, U.S.-based customers of STN will be offered seamless connectivity to Asia-Pacific. The network-to-network connectivity between MetaBit and STN creates a truly global FIX trading network, built on local, specialized market expertise," said Daniel Burgin, chief executive officer, MetaBit.
Bob Ward, chief operating officer of SunGard's wealth management business, said: "STN's integration with MetaBit provides for a wide-range of coverage and local expertise in the Asia-Pacific region. In today's volatile markets, real-time automated trading networks are essential to facilitate cross-border financial transactions. By providing access to financial markets around the world, STN and Brass are able to help SunGard's wealth management and broker-dealer customers support their global trading initiatives in a fast, efficient and seamless environment."