SunGard is providing access to UBS Equities direct market access (DMA) and algorithmic trading strategies in the U.S. through its Brass order management system (OMS).
Brass customers will have the ability to access each UBS trading strategy through their current Brass interfaces. They will also be able to execute each strategy based on their own parameters such as pricing, pacing and aggression level.
UBS's DMA and algorithmic trading suite includes a number of strategies including standard algorithms for VWAP and TWAP, liquidity seeking algorithms, such as Tap and TapNow, and a variety of other strategies. SunGard's Brass is an integrated trade order, execution and compliance management solution supporting NASDAQ, listed, listed market making and sales trading for sell-side institutions.
Will Sterling, global head of direct execution for UBS, said, "We are excited to be able to deliver DMA and advanced algorithms - including Tap - to SunGard's significant broker-dealer network. In addition to expanded access to algorithms, customers of SunGard's Brass will be able to access the quality, non-displayed liquidity in PIN ATS, UBS's dark liquidity pool. This will help enhance the brokers' ability to seek price improvement and minimize market impact for the benefit of their clients."
Satish Mujumdar, chief operating officer of SunGard's Brass, said, "Giving Brass customers access to advanced execution strategies is part of our effort to help firms increase their profitability and diversify their businesses. With access to UBS' DMA and algorithmic trading strategies, our customers will have access to an additional tool set helping them improve both efficiency and overall execution quality."