SunGard has extended its ASP-based market connectivity services by adding the Johannesburg Stock Exchange (JSE) Derivatives Market.
SunGard's Valdi Market Access services help exchange members and their direct market access (DMA) clients access and trade on 110 markets worldwide from any SunGard workstation or FIX-enabled application. The extended service will help South African and international firms access and trade JSE Derivatives products simply and cost-effectively.
Valdi Market Access services will help exchange members outsource the activities involved in procuring and managing the hardware, software and telecommunication links required for market access. Users will benefit from 24/7, managed access to local markets.
Warren Geers, general manager of derivatives trading at the JSE, said, "The JSE has been working with SunGard for many years to provide market participants with enhanced market access and trade processing, and has used SunGard's gateway to provide trading on the equity marketplace since 2001. SunGard's new ASP-based market connectivity for JSE Derivatives will help facilitate greater access to our derivatives products - futures and options on soft commodities, currency and equities - which have been growing steadily."
Yassine Brahim, president of SunGard's global trading business, added, "To help facilitate electronic access to financial markets, SunGard establishes close relationships with exchanges such as the JSE. SunGard's presence in South Africa has been long established, with an office in Johannesburg providing support and services, the implementation of a SunGard Global Network hub and a strong relationship with the JSE. Launching the Valdi Market Access service for the JSE Derivatives market is a natural development of SunGard's strategy, and supports increasing trading demand in the country."