Casa de Bolsa Finamex has selected the SunGard Global Network (SGN) for Securities to expand its reach in the global trading community.
Finamex offers a full range of brokerage services in equities and derivatives to more than 50,000 clients globally. Finamex will use SGN Securities to collect order flow and execute on the Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV).
SGN Securities routes equities, listed derivatives and fixed income orders to over 110 global markets. SGN Securities will help Finamex and its clients expand their market reach, and achieve more bi-directional business growth opportunities by connecting to over 2,000 asset managers and 500 broker-dealers worldwide. In addition, SunGard customers will be able to access more liquidity through the addition of a leading broker in Mexico.
Emerging markets, like Mexico, are growing rapidly and are experiencing regulatory and market changes as well as an increased demand for electronic trading systems that can keep pace with market activity. SunGard has had a physical presence in Mexico for several years, first offering direct market access (DMA) through Mexican exchanges in 2006. Earlier in 2010, SunGard expanded its reach in Latin America when it was selected to act as a DMA provider for the Brazilian derivatives markets.
Hector Casavantes, head of electronic trading at Finamex, said, "We are committed to expanding our presence globally and providing the finest execution services on the Mexican market. With buy and sell-side firms around the world requesting that we offer electronic trading as our primary service, the increased connectivity that SGN Securities offers will help us provide our clients with access to new sources of liquidity, and a larger trading network."
Raj Mahajan, president of SunGard's trading business, said, "Latin American market indices rose significantly over the past decade. As a result, our customers are increasingly demanding more points of access to help them trade globally as they look for new sources of revenue. SunGard's investment in emergingiing markets such as Mexico and Latin America will help our customers grow their businesses more efficiently."