SunGard has extended its order routing connectivity of SunGard Global Network (SGN) to GETCOs European broker crossing network, known as GET Matched Europe.
GETMatched matches brokers orders with passive flow from GETCOs European market-making operation, according to SunGards release.
GETMatched is the centrally cleared crossing network owned and operated by GETCO Execution Services, the client services arm of GETCO, a leading global market maker.
"For brokers focused on safeguarding the anonymity of their orders, GETMatched provides an order matching solution that is designed to prevent information leakage and offers direct access to the liquidity of a global market maker, commented Virginie Saade, head of European Sales for GETCO in todays release. We are active on the most liquid stocks of the UK, France, Italy, Germany, Belgium, Portugal, Switzerland and the Nordic countries, and plan to extend coverage further through SGN."
SunGard is adding connectivity to GETCO Execution Services crossing network to help SunGards customers better manage fragmented liquidity in the European equity markets, the company said. With connectivity to major European exchanges, most European multilateral trading facilities (MTF) and dark pools, SunGard offers a full-service solution for access to the European trading landscape.
Commenting in the same release, Philippe Carr�, global head of connectivity for SunGard's global trading business, said, European and global brokers are looking to expand their range of capabilities for electronic trading in Europe, in a drive to help improve hit rates and reduce costs. GETCO Execution Services approach is likely to be of interest to many of them, and we are pleased to be working with GETCO as part of the SunGard Global Network community to facilitate that connectivity.