SunGard's Fox River Execution Solutions Provides Macquarie Group with its Canadian Trading Algorithms
SunGard has extended its Fox River Execution Solutions (“Fox River”) suite of award-winning algorithms to Canadian institutions via Macquarie Group's (“Macquarie”) global equities platform.
Toronto, Ontario (PRWEB) November 05, 2012
SunGard has extended its Fox River Execution Solutions (“Fox River”) suite of award-winning algorithms to Canadian institutions via Macquarie Group's (“Macquarie”) global equities platform. Macquarie's Canadian institutional customers can now seamlessly trade inter-listed equities on all available trading venues in both Canada and the U.S. and settle in a single currency, helping improve efficiency.
Fox River's algorithms have embedded “Trader Logic” technology which seeks and secures the best price under certain market conditions. This quantitative approach helps portfolio managers, asset managers and hedge funds reduce information leakage, improve trade fill rates and improve execution quality.
Damian Hoult, head of global execution services at Macquarie Group, said, “Canada is an important and growing market for Macquarie. The Canadian equity landscape has become increasingly complex and demands a sophisticated and flexible approach to execution that is independent from exchanges or other trading venues. Integrating Fox River's algorithmic solutions with Macquarie's Canadian equities platform – which includes both traditional cash equities and Direct Market Access facilities – helps give our clients high quality execution while helping us to expand our electronic execution footprint around the world.”
Bob Santella, president of SunGard's Brokerage business, said, “Our customers trading in Canada require high performing algorithms that can support a variety of trading strategies, from basic to advanced. Adding short-term alpha to algorithms via Trader Logic will translate to high performing algorithms that can help Macquarie's customers and other firms trading in the Canadian marketplace become more successful.”
Macquarie Group, which operates in Canada as Macquarie Capital Markets Canada Ltd., provides advisory, capital markets and institutional securities' activities in Canada. The firm's advisory and capital markets teams specialize in a range of corporate advisory and capital markets services including mergers and acquisitions, capital markets, restructurings, project and structured finance as well as tailored strategic and financial advice. Macquarie's equities team provides clients with specialist equities research, sales and trading services across key TSX and TSX-Venture sectors.
About SunGard's Fox River Execution Solutions
SunGard's Fox River Execution Solutions provide award-winning electronic execution trading systems to help customers improve execution quality and overcome market fragmentation. Fox River provides independent trading and technical support from pre-open to post-close, as well as post-trade analytics and back-testing capabilities to help customers identify opportunities to improve and customize trading results. Fox River also proactively monitors connections and markets to help ensure availability and optimal performance. For more information, please visit http://www.sungard.com/foxriverexecution.
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 is ranked 480 on the Fortune 500. For more information, please visit http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Fox River Execution 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.
© SunGard 2012. All rights reserved.
SunGard's Fox River Execution Solutions and other brokerage offerings are provided by SunGard Brokerage & Securities Services LLC, Member NYSE, FINRA, SIPC.
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