17 October 2017
Find out more

CBSX taps SunGard Assent Liquidity Services for execution and clearing

28 July 2009  |  1387 views  |  0 Source: SunGard

CBOE Stock Exchange (CBSX) will use SunGard's Assent Liquidity Services as an outbound routing provider and will clear trades through SunGard's Assent Correspondent Clearing services.

Assent Liquidity Services' routing infrastructure will help CBSX continue to fulfill Regulation NMS obligations by supporting exchange requirements to route flow to any of the Regulation NMS protected venues showing a better price.

CBOE Stock Exchange is a fully electronic, Regulation NMS-compliant marketplace, offering strict price-time priority for all participants. SunGard's Assent Liquidity Services has a suite of market access solutions for both buy- and sell-side institutions, and includes sponsored access, directed and smart order routing, dark aggregation, advanced algorithms and an alternative trading system.

CBSX will leverage Assent Sponsored Access' high-speed, low-latent direct connectivity to help it gain access to better-priced markets. This will help CBSX to decrease latency in the trade lifecycle and better fulfill its best execution obligations. Assent Correspondent Clearing services will help CBSX to increase post-trade efficiency, while helping to decrease infrastructure requirements and clearing and settlement costs.

"CBSX is committed to providing our growing set of clients with advanced technology at a low cost, and SunGard provides us with a low-latency, customized solution to help us reduce our operational expenses," said David Harris, CBSX chief executive officer. "Leveraging Assent for sponsored access, routing and clearing will help us incorporate economies of scale and operational efficiencies."

Raj Mahajan, president of SunGard's trading business, said, "SunGard's Assent Liquidity Services will help provide CBSX with a customizable, cost-effective, execution and clearing solution. We are committed to providing our customers with multiple solutions to help streamline and reduce latency in the transaction lifecycle while reducing costs."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.com visit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14515 views comments | 11 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13107 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
8988 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
7961 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7641 views comments | 13 tweets | 13 linkedin

Featured job

Find your next job