SunGard today announced that AG Edwards, a St. Louis-based full service national brokerage firm, has gone live on SunGard's BRASS turnkey program trading solution, which incorporates Portware's execution management system, Portware Professional, an automated portfolio trading system supporting basket, single-order and algorithmic trading.
The BRASS solution helped A.G. Edwards, an existing SunGard customer, to quickly and cost-effectively add program trading to its menu of institutional offerings.
In addition to the hosted Portware Professional software, AG Edwards relies on a complete SunGard solution that includes the BRASS Broker Direct U2 FIX API for order routing to execution destinations, and the BRASS OMS for order management, clearance and settlement. The solution also includes the SunGard Transaction Network (STN) for FIX connectivity to buy-side clients, and Raptor Trading Systems' gateway for intelligent automatic routing of buy-side client orders to either the Portware software or the BRASS OMS.
"Our buy-side clients needed us to provide program trading, and SunGard supplied us with an integrated ASP-based service with robust program trading software," said Frank Murphy, vice president and manager of institutional equity trading at AG Edwards. "The solution helped us to add, manage and support a new program trading capability."
Patrick Lynch, president of SunGard's BRASS business unit, said, "The BRASS program trading solution was designed for firms that do not want to devote the staff or resources required to develop and support such an electronic trading service in-house. Because the solution is integrated with BRASS services and workflows, its implementation is seamless, allowing firms to continue to focus on building their businesses and meeting clients' needs."