New York, NY (Vocus) December 15, 2008
SunGard announced today that Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, will use SunGard's Brass low-latency, dedicated Consolidated Ticker Plant (CTP) solution for its U.S. equities trading business. SunGard's Brass dedicated CTP handles order flow for US equities, options and international equities, and helps firms manage spikes in data volumes and market volatility with the capacity to handle high throughput. It can also be leveraged to supply low latency market data for a firm's in-house applications. This helps eliminate the need to build and maintain an in-house ticker plant, which helps reduce costs. Brass' dedicated CTP provides low cost, low latency direct feeds from the major U.S. market venues, including the new BATS exchange.
Derek Penn, managing director of Equity Trading at Pershing LLC, said, "SunGard continues to provide us with robust trading technology tools and capabilities that are vital to the success of our business. The Brass dedicated CTP solution will further help us to focus on our trading strategies and meet our customers' equity trading needs."
Pershing also uses SunGard's GL Trade to provide enhanced global equity execution capabilities to its introducing broker-dealer and independent registered investment advisor customers. GL Trade provides multi-asset, front-to-back solutions, market connectivity and information services, delivering trading solutions for asset classes from equities, fixed income, derivatives and commodities to FX and money markets..
Satish Mujumdar, chief operating officer of SunGard's trading business, said, "In anticipation of Regulation NMS, SunGard redesigned its dedicated ticker plant. The result is a new architecture that can be deployed in a dedicated environment and has proven its capacity, speed and reliability. This solution helps our customers make decisions and execute trades in volatile markets, minus the burden of system capacity."
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.
With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 25 largest financial services companies. Visit SunGard at http://www.sungard.com.
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.
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Tel: 718 578 1130