New York, NY (Vocus) July 22, 2010
SunGard has acquired Fox River Execution, a leading broker dealer that provides algorithmic trading technology and execution solutions to institutional firms trading equities and exchange-traded funds (ETFs). Fox River Execution, which will become part of SunGard’s trading business, will augment SunGard’s ability to provide customizable algorithmic trading solutions to help customers improve execution quality, meet best execution requirements and better access available liquidity in today’s fragmented equities markets. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard’s financial results.
Fox River Execution’s technology offerings, including Fox Trader, Fox Blaster and Fox Spotlight, will help enhance SunGard’s 360 degree approach to trading technology by providing customizable execution algorithms, an ETF liquidity discovery and trade execution solution, and post-trade analytics. These offerings will complement SunGard’s Valdi, a global solution suite for multi-asset class trading, and the SunGard Global Network (SGN), a trade automation and connectivity network. Fox River Execution’s management team will continue to be led by Ronald Santella.
Mr. Santella said, “Being part of SunGard will help Fox River Execution accelerate our growth plans and expand into new markets, leveraging SunGard’s global brand and resources. Our team looks forward to integrating our capabilities with SunGard’s in order to offer an enhanced set of services to capital market participants.”
Raj Mahajan, president of SunGard’s trading business, said, “Fox River Execution’s algorithmic and ETF trading solutions will help advance SunGard’s 360 degree trading strategy by expanding our ability to support every step in the trade lifecycle for global market participants. We are enthusiastic about working with the Fox River Execution management team to exploit the synergies of our offerings and extend our services.”
About SunGard’s Valdi
SunGard’s Valdi provides equities, futures, fixed income and options traders with multi-asset, front-to-back trading and risk management solutions on 110 markets worldwide. SunGard’s Valdi global trading solutions support the entire trade lifecycle including integrated trade and order management systems, execution services, risk management, compliance, and clearing and settlement services. With connectivity via the SunGard Global Network, SunGard's global trading solutions help customers achieve increased performance, low latency and execution across multiple platforms, instruments and geographies.
About the SunGard Global Network
A trade automation and connectivity solution, the SunGard Global Network links institutions throughout the financial services value chain, offering services for equities, fixed income, listed derivatives, mutual funds, money market funds and other cash equivalents. The SunGard Global Network helps automate the entire trade lifecycle from order execution through to post-trade processing. It provides access to 110 markets worldwide and connects the buy-side, third party networks, broker/dealers and investment companies, including 2,000 asset managers and 500 broker connections. Its international connectivity hubs also support low-latency market data delivery from global markets.
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 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, please visit http://www.sungard.com
Trademark Information: SunGard, the SunGard logo, SunGard Global Network and Valdi 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.