SunGard Valdi connects to ASX PureMatch

SunGard's Valdi connectivity and trading solutions now provide access to the Australian Securities Exchange's (ASX) new PureMatch high-frequency, low-latency order book.

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The Australian Securities and Investments Commission (ASIC) is requiring participants to comply with their best executions obligations by the end of October 2012. Market participants will need to connect to the alternative trading venues such as Chi-X Australia and ASX PureMatch in order to provide the best execution to their clients.

SunGard's Valdi passed vendor certification testing with ASX and was operational as of January 30, 2012. SunGard announced that Valdi was operational on Chi-X Australia on October 31, 2011.

The Valdi Market Access service provides access to both the ASX PureMatch and existing ASX TradeMatch order books via the current ASX TradeMatch connection. SunGard's hosted customers are now able to send orders on ASX PureMatch via their existing managed connectivity services to ASX TradeMatch. SunGard will deliver the new connection services for the non-hosted customers.

Scott Leader, managing director, Oceania region, SunGard Financial Systems, said, "SunGard is helping market participants in Australia capitalize on the changes that will arise from the new multi-exchange environment. This includes providing connectivity to two critical exchanges as well as solutions to help automate trading and route orders." 

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