(PRWEB) March 05, 2012
Sydney, Australia – March 5, 2012 – SunGard’s Valdi connectivity and trading solutions now provide access to the Australian Securities Exchange’s (ASX) new PureMatch high-frequency, low-latency order book. The Australian Securities and Investments Commission (ASIC) is requiring participants to comply with their best executions obligations by the end of October 2012. Market participants will need to connect to the alternative trading venues such as Chi-X Australia and ASX PureMatch in order to provide the best execution to their clients.
SunGard’s Valdi passed vendor certification testing with ASX and was operational as of January 30, 2012. SunGard announced that Valdi was operational on Chi-X Australia on October 31, 2011.
The Valdi Market Access service provides access to both the ASX PureMatch and existing ASX TradeMatch order books via the current ASX TradeMatch connection. SunGard’s hosted customers are now able to send orders on ASX PureMatch via their existing managed connectivity services to ASX TradeMatch. SunGard will deliver the new connection services for the non-hosted customers.
Scott Leader, managing director, Oceania region, SunGard Financial Systems, said, “SunGard is helping market participants in Australia capitalize on the changes that will arise from the new multi-exchange environment. This includes providing connectivity to two critical exchanges as well as solutions to help automate trading and route orders.”
About the Australian Securities Exchange
ASX Limited is the listed holding company for a number of licensed operating subsidiaries, together forming the ASX Group (ASX), which offers a range of market services linked by a common purpose: to provide core financial markets services and infrastructure to meet the needs of a wide range of financial markets stakeholders, and for a globally competitive and vibrant Australian economy. ASX is a multi-asset class, vertically integrated exchange group, ranked one of the world’s top-10 largest by market capitalisation. Its activities span primary and secondary market services, central counterparty risk transfer, and transaction settlement for both the equities and fixed income markets. ASX functions as a market operator, clearing house, payments system facilitator and central securities depository. It also oversees compliance with its operating rules, promotes standards of corporate governance among Australia’s listed companies and helps to educate retail investors. More information on ASX can be found at: http://www.asxgroup.com.au.
About SunGard's Valdi
SunGard’s Valdi provides equities, futures, fixed income and options traders with multi-asset trading solutions on 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/360trading.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, 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 $4.5 billion, SunGard is the largest privately held software and services company and was ranked 434 on the Fortune 500 in 2011. Look for us wherever the mission is critical. 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.