20 August 2017
visit www.avoka.com

SunGard plans DMA for China index futures trading

21 October 2010  |  2272 views  |  0 Source: SunGard

SunGard is offering a direct market access (DMA) solution to help global Qualified Foreign Institutional Investors (QFIIs) trade Chinese stock-index futures.

QFIIs will be able to send orders in FIX Protocol via the SunGard Global Network (SGN) to Chinese futures brokers and use a CFFEX (China Financial Futures Exchange) version of SunGard's GL Win trading solution.

Trading of Chinese stock-index futures contracts on China Financial Futures Exchange (CFFEX) debuted in April. Although the Chinese financial authority currently limits trading access to local players, QFIIs may be able to participate in the near future. SunGard is able to test electronic DMA access solutions with QFIIs to help them prepare for investing if and when authorization is granted. Chinese futures brokers will be able to receive FIX orders from QFIIs via SunGard's Global Network. The network links 2,000 asset managers and 110 markets worldwide. It also provides order routing for equities, fixed income and listed derivatives and assists in automating the entire trade lifecycle.

Paul Rowady, senior analyst at TABB Group and author of a recent report on trading in Asian derivatives, commented: "China is both one of the biggest markets - across most asset classes - as well as one of the most difficult to access from outside the country. The West is anxious for any open channel through which this market can be accessed. In general, the QFII designation and, in specific, the CSI 300 Index Futures, represent the most near-term channels to provide such eagerly awaited access."

Yassine Brahim, president of SunGard's global trading business, said, "Whenever Chinese authorities open access to local marketplaces, there is tremendous interest from the global financial community. Even if stringent requirements must be met before firms can trade China's index futures, requests for access will undoubtedly increase. SunGard helps international investors to access and trade on new electronic marketplaces, offering early testing capability to QFIIs interested in trading China's index futures."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.worldpaymentsreport.comdownload the paper now

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
9716 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8157 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7796 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
7536 views 0 | 2 tweets | 1 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
7028 views comments | 14 tweets | 13 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job