SunGard has launched new ASP-based market connectivity services that offer customers cost-effective access to trade on BM&FBOVESPA, the Securities, Commodities and Futures Exchange created in 2008 through the integration of the Brazilian Mercantile & Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa).
SunGard's ASP-based market connectivity services already offer similar access to more than 80 exchanges and other market centers worldwide.
SunGard's ASP-based market connectivity services allow BM&FBOVESPA exchange members to outsource the complex activities involved in procuring and managing the hardware, software and telecommunication links required for market access. Customers can benefit from 24/7 access to the Brazilian equities and derivatives marketplace. In addition, SunGard's local presence in São Paulo can provide both local and international customers with service and support in both English and Portuguese.
The new ASP-based market connectivity services strengthen SunGard's trading solution offering for customers in Brazil and will help them trade on both cash and derivatives markets from the same screen. Local brokers can use SunGard's workstations and consolidated pre-trade risk management solution to trade simultaneously on BM&F and BOVESPA segments (equities and derivatives). They can also trade internationally via SunGard's GL Net, a market data and order routing low latency network.
Cícero Augusto Vieira, chief operating officer of BM&FBOVESPA, said, "BM&FBOVESPA has been developing its direct market access (DMA) business since 2008: DMA order routing brought 156,262 trades in July, in comparison to 112,621 trades in June. We welcome initiatives that can help our members reach our markets more easily and cheaply. With its ASP-based market connectivity services, SunGard can help us gain new local and international trading customers."
Yassine Brahim, president of SunGard's global trading business, commented, "The Brazilian market is attracting more and more DMA orders. SunGard has been working with BM&FBOVESPA and its predecessors since the 1990's to help provide DMA connectivity for both the equities and derivatives segments of BM&FBOVESPA. We're demonstratingtrating that, through our ASP-based market connectivity services, SunGard can now respond to local and international demand for trading on the exchange while helping control the costs of market connectivity."