IXE live on SunGard Global Network

Source: SunGard

IXE Financial Group, one of Mexico's largest broker dealers on the Bolsa Mexicana de Valores (BMV), through SunGard's GL Win, (SunGard's multi-asset trading station that provides enhanced order types on the BMV) will have connectivity to the SunGard Global Network (SGN Securities) ("SGN").

SGN accesses 2,000 financial institutions and 110 markets world-wide. SGN provides order routing for equities, fixed income and listed derivatives, and assists in automating the entire trade lifecycle. IXE is also the first SunGard customer in Mexico to use SunGard's GL Tactics, an algorithmic and automated trading solution, which it uses through its implementation of GL Win. SunGard's expanded global connectivity and execution solutions will help IXE provide reliable, low latency technology to its sell- and buy-side clients, helping them access more liquidity.

It is essential for broker dealers to have access to an extensive and secure transaction network as well as competitive execution services to help them achieve global growth and capture liquidity. IXE's expanded relationship with SunGard will help it trade globally using SGN and execute electronically with GL Tactics. SunGard provides IXE with a stable network that reaches desktops around the world. GL Tactics provides the ability for IXE to create, deploy and execute trading strategies and algorithms such as TWAP, VWAP, and Percent Volume to help its clients competitively access and quickly execute trades.

Carlos Manuel Ramírez Cervera, director of electronic services, IXE, said, "SGN is IXE's preferred connectivity option because it is a secure global network with international private lines dedicated exclusively to market data and order routing. We also appreciate SunGard's eagerness and timeliness in customizing GL Tactics, helping us provide our clients with enhanced order types for trading on the BMV. We are excited about these new capabilities as they are supported by experienced customer service teams that also have deep local expertise."

Raj Mahajan, president of SunGard's trading business, said "SunGard is dedicated to helping IXE efficiently access more liquidity, by providing enhanced order types and algorithms, and by helping expand its network of br of broker/dealer firms executing on the BMV. Customizing and developing unique order types and being connected to SGN helps IXE competitively execute in markets like Hong Kong and the US, helping it find revenue opportunities and lower costs through a single provider."

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