(Vocus) April 16, 2010
Sucden Financial, a commodity and financial futures and options firm, has selected SunGard to support the launch of STORM, its new multi-asset direct market access (DMA) platform. STORM leverages several SunGard solutions, including GL Net, a low-latency market data and order routing network, and SunGard’s GL Stream, an electronic trading solution that helps firms manage global order flows and executions.
Alongside STORM, Sucden Financial is also using SunGard’s solutions to provide broader exchange access to its in-house developed trading system as well as connectivity for other execution systems.
Michael Overlander, chief executive officer at Sucden Financial, said: “STORM enables our clients to trade a broad range of cash and derivatives markets. We will also have the capability to serve new clients via SunGard’s GL Net and provide access to markets such as the London Metal Exchange (LME) where we have an established trading presence”.
Yassine Brahim, president of SunGard’s global trading business, commented: “Sucden Financial’s range of memberships on the world's key financial markets offers many investment opportunities to the GL Net community. In turn, SunGard’s trading technology, including GL Stream and GL Net, has helped Sucden Financial rapidly bring to market its new STORM trading platform. We look forward to assisting further with the firm’s multi-asset business drive.”
About Sucden Financial Limited
Sucden Financial Limited deals in a broad range of markets, covering equities, financial and commodity futures and options, as well as foreign exchange. Formed in 1973 as the soft commodities brokerage arm of the French Sucres et Denrées (Sucden Group), the firm has since evolved into one of the largest brokers for investment houses, hedge funds, commodity firms, and high net worth retail clients.
It has access to every major exchange worldwide, offering clients fast, direct access to global electronic markets, as well as a ring dealing membership on the London Metal Exchange. In addition to offering low cost, direct market access to clients via its new STORM platform, Sucden Financial also offers full service research and brokerage, particularly in its established commodities sector.
About SunGard’s GL Net
GL Net is a high-bandwidth global network, providing order routing and market data delivery services. GL Net links a direct-market-access community of financial institutions, with brokerage organizations offering services for trading on the world’s electronic markets in all core asset classes. GL Net’s connectivity hubs support low-latency market data delivery from global markets and is continuing to expand to cover emerging electronic markets.
About SunGard’s GL Stream
GL Stream provides a comprehensive response to the challenges of global electronic trading. GL Stream ASP for Market Access is a fully managed and cost-effective solution for exchange connectivity, based on hosted and mutualized market gateways. GL Stream for Liquidity Management is a suite of capabilities for trading of instruments across multiple competing venues: exchanges, ECNs, MTFs, dark pools and in-house matching engines.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 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 IT services company.
For more information, please visit SunGard at http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo, GL Stream and GL Net 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.