BBVA connects to Mexican stocks and derivatives with unified SunGard desktop
23 September 2010 | 2972 views | 0
Grupo Financiero BBVA Bancomer (BBVA Bancomer), a leading Mexican financial firm and part of the Banco Bilbao Vizcaya Argentaria (BBVA) group, has gone live with a suite of SunGard solutions including SunGard's GL Win trading workstations, GL Stream Order Management System (OMS) and market access gateways to access both Mexican equities and derivatives marketplaces.
BBVA Bancomer is the first SunGard customer in Mexico to trade on the Mexican Stock Exchange (Bolsa Mexicana de Valores,BMV) and Mexican Derivatives Exchange (MexDer) markets from the same workstation. BBVA can now offer this capability to all its clients through its connection to the SunGard Global Network (SGN).
The BBVA Group, one of the largest banking organizations in the world, already connects to markets in Europe and Asia using SGN, a low-latency information and order routing network that links more than2,000 buy-side firms and 500 brokers on 110 markets. SGN can support BBVA to extend its global strategy by providing the group's clients with access to new investment opportunities in Mexico.
In addition, SunGard's gateways give BBVA Bancomer access to the new trading engines used by the two exchanges - BMV's new RINO™ and MexDer's new MEXFIX™ engines respectively. Finally, SunGard's GL Stream OMS and multi-asset GL Win workstations help the bank handle multiple client order flows and create new, complex trading strategies.
José Acebes, global equities executive director for wholesale banking and asset management at BBVA, said, "SunGard's solutions helped us to manage order flow from other BBVA offices more efficiently, while offering advanced trading services on the Mexican cash and derivatives exchanges. Our membership in the SGN community is supporting our local connectivity across the world, and is aiding our growing business in Mexico."
Yassine Brahim, president of SunGard's global trading business, said, "Mexican markets are among the most sophisticated in Latin America. Thanks to recent regulatory and technological changes, these markets are due to attract new investors and high-frequency trading firms. SunGard's strategy to open local offices and launch new SGN hubs in the region, while developing access to new markets such as Chile, Colombia and Peru, helps support customers such as BBVA in their global strategies."