Sydney, Australia (PRWEB) October 30, 2011
SunGard’s Valdi suite of trading and order management solutions can help Australian broker-dealers capitalize on the business opportunities that will arise as the market fragments as a result of the go-live of Chi-X Australia on October 31, following the Australian Securities & Investments Commission (ASIC) notice that Chi-X has fulfilled all market license preconditions.
SunGard’s Valdi passed vendor certification testing with Chi-X Australia on September 20, and is operational as of October 31.
Peter Fowler, chief operating officer of Chi-X Australia, said, "Chi-X Australia is committed to offering a valuable alternative to the Australian Stock Exchange by improving service levels and driving down prices. As a certified vendor, SunGard will bring its experience and technology in smart order routing to help us provide Australian investors with more efficient markets”.
Nasser Khodri, managing director for SunGard’s global trading business in Asia Pacific, said, “We look forward to working with market participants in Australia to help them seize the opportunities that will arise from the launch of Chi-X, which is an important step in bringing further transparency and efficiency to Australia’s markets. SunGard has over 20 years’ experience in delivering global trading solutions and services, including smart order routing on both lit and dark liquidity pools in the US and Europe, and our teams are working closely with customers across Asia Pacific to help them adapt to the evolving market structure”.
About Chi-X Australia
Chi-X Australia plans to offer a valuable alternative to trading on ASX using its low latency, high performance, proven trading system. The launch of Chi-X Australia will introduce innovative new order types, the potential for lower costs and a more efficient way to trade.
About Chi-X Global
Chi-X Global is an operator of technologically advanced alternative market centers and a provider of innovative market level trading solutions. By leveraging our operational and market expertise, our goal is to drive positive market structure development and regulatory reform in an effort to create more efficient and transparent marketplace for all participants. Through this vision, we are focused on lowering the overall cost of trading for the benefit of the global trading community.
About SunGard’s Valdi
SunGard’s Valdi provides equities, futures, fixed income and options traders with multi-asset trading solutions on 170+ markets worldwide. Valdi global trading solutions support the entire trade lifecycle, including integrated trade and order management systems, execution services, market data, risk management, compliance, and clearing and settlement services. Also offering global connectivity via the SunGard Global Network (SGN), SunGard's Valdi helps customers achieve increased performance and low latency execution across multiple platforms, instruments and geographies. For more information, please visit http://www.sungard.com/valdi.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and 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 of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, please visit http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo, the 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.