SunGard and Nyse Arca Europe have agreed to a partnership that will allow SunGard to offer customers of its ASP-based connectivity services access to Nyse Arca Europe, Nyse Euronext's multilateral trading facility (MTF).
SunGard's ASP-based connectivity services help trading firms access and trade on NYSE ARCA Europe and support multi-venue trading strategies in the increasingly fragmented European equity markets.
The partnership to facilitate member connectivity will allow SunGard customers not yet trading on NYSE Arca Europe to connect to the platform at no additional fee for an initial period.
SunGard's ASP-based connectivity services already deliver hosted access to eight European MTFs. As part of these services, SunGard's GL Stream suite aggregates market data for each instrument from competing platforms. Its smart order router then routes order traffic according to the algorithmic strategy determined by the customer in accordance with best execution obligations.
Virginie Saade, head of NYSE Arca Europe, commented: "Building partnerships with leading service providers to help ensure a smooth connectivity process for our clients is a key step forward in building our business across Europe. We are delighted to enter this partnership with SunGard. Their ASP-based connectivity services are an excellent solution for trading firms. We are confident that our partnership with SunGard will help us to reach new customers."
Vincent Burzynski, chief product officer for SunGard's global trading business unit, added: "One of the challenges faced by European financial firms is to determine which liquidity pools to trade on. Ideally, they need to test the liquidity pools and then select the most appropriate to reach their business goals. SunGard's ASP-based approach provides a cost-effective response to this need. The services' framework is designed to allow customers to try different platforms and trading approaches, helping them to make changes easily and cost-effectively."