To help promote global fixed income liquidity, DelphX, a provider of neutral alternative trading systems (ATS) for informed and transparent trading of fixed income securities, has selected SunGard to provide Financial Information eXchange (FIX) connectivity through its SunGard Global Network (SGN) to create CentralX, a neutral, centrally-cleared global facility.
The CentralX market will be integrated within SGN to facilitate anonymous all-to-all interaction of orders entered by SGN users and buy-side and sell-side subscribers to DelphX and other participating fixed income ATS/ECNs and linked trading platforms.
"CentralX is specifically designed to serve the growing need for centralized interaction among all fixed income market participants to help achieve best execution, stimulate liquidity and reduce market fragmentation. Our commitment to providing transparency, anonymity and a level playing field to all market participants is complemented by the global scale of SGN and its connectivity with thousands of firms around the world." - Larry Fondren, president and CEO of DelphX
"Shifting economic forces and merging regulatory pressures are transforming the fixed income market and altering the way participants interact and access and source liquidity. SGN and DelphX are working together to help facilitate unified market interaction and anonymous access to deep new sources of price-sensitive liquidity." - Ralston Roberts, chief operating officer, real-time market data and network services, SunGard's brokerage business
SGN is a trading services network that links asset managers and brokers throughout the financial services value chain, offering trade automation and connectivity for equities, fixed income, listed derivatives, mutual funds, money market funds and other cash equivalents.
DelphX provides real-time fair-value pricing and anonymous alert, query, negotiation, matching and clearing services for best execution among all market participants.