We are very pleased to offer Surge Trading as an execution point to SunGard's global network. Surge Trading will help Brass customers gain access to new liquidity, reduce market impact and increase execution quality.
Jersey City, NJ (Vocus) December 9, 2009
SunGard has added Surge Trading, a New York-based electronic market maker, as a new destination for accessing available liquidity via SunGard’s routing network. SunGard’s global network of order routing solutions helps customers increase performance, reduce latency and improve best execution across multiple platforms, instruments and geographies. SunGard provides access to over 150 markets and 2,500 brokers and buy-side firms around the globe for multi-asset trading.
Surge Trading, which provides trade execution to the capital markets, will help customers of SunGard’s Brass to access liquidity and seamlessly connect to Surge Trading in a matter of days.
Joseph Marinaro, chief business development and strategy officer of Surge Trading, said, “We are very pleased to offer Surge Trading as an execution point to SunGard’s global network. Surge Trading will help Brass customers gain access to new liquidity, reduce market impact and increase execution quality.”
Satish Mujumdar, chief operating officer of SunGard’s Brass business unit, said, “In this expanding industry, connectivity can be the lifeblood of a trading firm. The technology burden and expense of maintaining a routing infrastructure can hamper a company’s ability to achieve best execution. Adding destinations like Surge Trading to SunGard’s global network highlights our continued dedication to helping our customers achieve best execution by providing easy access to more liquidity.”
About Surge Trading Inc.
Surge Trading Inc. is a wholesale market maker providing liquidity, trade execution services and electronic market access to clients – retail broker/dealers, clearing firms, asset managers, institutions and hedge funds. Founded by a group of industry veterans to meet today’s increasing trading volumes, Surge Trading is a primary source of liquidity for clients trading NASDAQ and NYSE-listed equities. Surge uses advanced trading applications to seek out market liquidity to provide clients’ orders with immediate and best execution. Proprietary algorithms determine the level of quantitative execution that orders receive. These algorithms dynamically access market information to provide potential improved price discovery and enhanced liquidity at or within the National Best Bid or Offer (NBBO) in the presence of normal market conditions.
As a registered broker-dealer under the Securities Exchange Act of 1934, Surge Trading is a member of the Financial Industry Regulatory Authority (“FINRA”). For more information, please go to http://www.surgetrading.com/.
About SunGard’s Brass
An integrated trade and order management solution suite supporting Nasdaq, listed, listed market making and sales trading, Brass serves market makers, institutional brokers and traders working in a variety of roles. The suite includes a trade order management system; a set of direct market access tools as well as solutions for automated indications of interest and advertised trades; trade matching; and compliance analysis and reporting. The Brass solution also includes a suite of liquidity management tools for both the buy- and sell-side, including smart order routing, dark aggregation, broker-sponsored access and customizable algorithms. Brass facilitates trade execution through connectivity with the buy-side community via SunGard Transaction Network, through links with major back-office clearing firms, and through direct access to all major domestic exchanges and trading destinations.
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at http://www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
STN Brokerage Services offered throughout the United States are provided by SunGard Institutional Brokerage Inc. Member FINRA/SIPC 377 E. Butterfield Rd., Suite 800 Lombard, IL, USA 60148
Trademark Information: SunGard, the SunGard logo, and Brass are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.