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IXE Goes Live on the SunGard Global Network
Jun 21, 2010 (11:06 AM EDT)
NEW YORK, June 21 /PRNewswire/ -- IXE Financial Group, one of Mexico's largest broker dealers on the Bolsa Mexicana de Valores (BMV), through SunGard's GL Win, (SunGard's multi-asset trading station that provides enhanced order types on the BMV) will have connectivity to the SunGard Global Network (SGN Securities) ("SGN"). SGN accesses 2,000 financial institutions and 110 markets world-wide. SGN provides order routing for equities, fixed income and listed derivatives, and assists in automating the entire trade lifecycle. IXE is also the first SunGard customer in Mexico to use SunGard's GL Tactics, an algorithmic and automated trading solution, which it uses through its implementation of GL Win. SunGard's expanded global connectivity and execution solutions will help IXE provide reliable, low latency technology to its sell- and buy-side clients, helping them access more liquidity.
It is essential for broker dealers to have access to an extensive and secure transaction network as well as competitive execution services to help them achieve global growth and capture liquidity. IXE's expanded relationship with SunGard will help it trade globally using SGN and execute electronically with GL Tactics. SunGard provides IXE with a stable network that reaches desktops around the world. GL Tactics provides the ability for IXE to create, deploy and execute trading strategies and algorithms such as TWAP, VWAP, and Percent Volume to help its clients competitively access and quickly execute trades.
Carlos Manuel Ramirez Cervera, director of electronic services, IXE, said, "SGN is IXE's preferred connectivity option because it is a secure global network with international private lines dedicated exclusively to market data and order routing. We also appreciate SunGard's eagerness and timeliness in customizing GL Tactics, helping us provide our clients with enhanced order types for trading on the BMV. We are excited about these new capabilities as they are supported by experienced customer service teams that also have deep local expertise."
Raj Mahajan, president of SunGard's trading business, said, "SunGard is dedicated to helping IXE efficiently access more liquidity, by providing enhanced order types and algorithms, and by helping expand its network of broker/dealer firms executing on the BMV. Customizing and developing unique order types and being connected to SGN helps IXE competitively execute in markets like Hong Kong and the US, helping it find revenue opportunities and lower costs through a single provider."
About 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.
SGN Brokerage Services offered in the United States and Canada are provided by SunGard Institutional Brokerage Inc., Member FINRA/SIPC
SGN Brokerage Services offered throughout Europe, the Middle East, Africa and Asia Pacific are provided by SunGard Global Execution Services Limited which is authorized and regulated by the Financial Services Authority, No. 469919 - Incorporated and registered in England and Wales No. 3127109 - Registered Office: 25 Canada Square, London E14 5LQ.
SunGard Global Execution Services Limited (ARBN No. 132 508 742) is exempted from licensing under Australia Securities & Investments Commission Class Order 03/1099 and is regulated by the Financial Services Authority under UK laws, which differ from Australian laws.
Trademark Information: SunGard, the SunGard logo and GL Tactics 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.