SunGard
GL Winway is a multi-asset- class, broker-neutral buy-side trading solution. The EMS enables users to trade across a variety of asset classes, with a specific focus on equities and derivatives trading. GL Winway supports direct market access (DMA), discretionary and algorithmic orders.
GL Winway can connect into SunGard’s GL OMS order management product. SunGard’s product suite is fully FIX-compliant, so users can ‘stage’ orders from third-party OMSs and portfolio management systems.
SunGard currently supports FIX versions 4.0, 4.2 and 4.4 with version 5.0 of GL Winway. FIXatdl for broker strategy onboarding will be available in the near future.
GL Winway is “competitively priced”, according to SunGard. Additional capabilities such as Combo Trader (for multi-instrument strategy trading) and GL OMS can be added on a modular pricing basis.
Asia-specific features
SunGard facilitates trading across all major Asian markets. GL Winway is available in many languages, including Mandarin, Cantonese, Korean and Japanese. SunGard has local offices in Hong Kong, Bangkok, Singapore, Sydney, Seoul, Taiwan, Tokyo and Mumbai.
Connectivity and access
Users can access over 110 listed markets and contribute orders to 300+ brokers via SunGard’s global network, GL Net. SunGard’s market data is also sourced via direct connections to markets from GL Net hubs.
The majority of the algorithm suites developed by the leading brokerage firms are already available.
SunGard hosts GL Winway on an application service provider basis from its 30+ GL Net hubs around the world. In every instance, SunGard aims to be in close proximity to global financial exchanges to ensure low-latency execution.
Algorithm support
Additional strategies can usually be added within a 24-hour window. When a broker adds or updates a strategy in the algorithm suite, it is sent to SunGard in XML format and deployed via GL Net to all GL Winway workstations using the Stream Manager tool.
Transaction cost analysis
GL Winway contains simple tools that allow buy-side traders to ensure best execution was upheld. From measuring execution shortfall to assessing the market impact of orders, SunGard provides the necessary functionality to carry out basic TCA, with a more comprehensive and advanced suite of TCA tools also available via the Stream Audit product.
Planned updates
SunGard plans to integrate GL Net with its other order routing networks.