Kepler Capital Markets, a European financial services firm, has gone live with SunGard's ASP-based connectivity services to help it broaden its market connectivity in Europe.
Kepler has added three new gateways to access the public order books of BATS Europe, NASDAQ OMX Europe and NYSE ARCA Europe.
SunGard's ASP-based connectivity services allow Kepler to outsource the complex processes involved in procuring and managing the infrastructure required for market access. Kepler already uses SunGard's ASP-based connectivity services to access five European MTF's (multilateral trading facilities), as well as SunGard's GL Stream to aggregate market data for each financial instrument across competing platforms. In addition, GL Stream's smart order router can route traffic according to an algorithmic strategy determined by Kepler, in accordance with best execution obligations.
Thomas Biotteau, head of execution services at Kepler Capital Markets, said: "We are taking full advantage of SunGard's smart order router and ASP-based connectivity services. SunGard's offerings are helping us achieve price improvements for clients by exploiting the liquidity available on the new MTFs, and find liquidity that is unavailable to many competing brokers. The SunGard offering helps us lower our overall trading and clearing costs, and we can share some of these savings with our DMA (direct market access) clients."
Vincent Burzynski, chief product officer of SunGard's global trading business, said: "In the post-MiFID environment, brokers are facing strategic choices - either they depend on larger brokers to achieve best execution for their customers, or they invest in liquidity management systems. SunGard has developed cost-effective solutions that can help brokers gain a competitive edge."