Otkritie Capital taps SunGard for automated Ruble conversion

Source: SunGard

Otkritie Capital (Otkritie), one of the leading financial services providers in Russia, has selected SunGard to help launch a new direct market access (DMA) service allowing for automatic real-time currency conversion from the Russian Ruble to the U.S. Dollar.

SunGard has also added integrated access to an algorithmic trading service to provide Otkritie's clients with access to Russian trading venues.

The new DMA service automatically converts Russian Ruble-denominated transactions executed on Moscow Exchange's MICEX order books into U.S. Dollar execution fills, allowing clients to remain currency-neutral and avoid the complexities of Ruble-clearing and holding. The new service is automatically available in all Valdi and FIX-enabled trading applications and to the SunGard Global Network (SGN) community.

"At Otkritie, we have always pioneered new electronic trading services for Russia and we intend to continue delivering innovative products and services to our clients. Partnering with SunGard to offer this new conversion and algorithmic offering will enable our clients to leverage Otkritie's renowned expertise on Russian capital markets, and ultimately benefit from and facilitate new trading in Russia." -Serge Alexandre, sales director, International Electronic Trading Services, Otkritie.

Using SunGard, Otkritie will also integrate its suite of algorithmic trading strategies and other alternative and custom strategies. This new algorithmic offering will help Otkritie's DMA clients to navigate the Russian trading landscape more efficiently. 

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