BBVA Bancomer, the Mexican division of Spanish financial services group Banco Bilbao Vizcaya Argentaria (BBVA), has selected technology vendor SunGard for accessing the Mexican equities and derivatives markets.
BBVA Bancomer will use SunGard’s GL Win trading workstations, GL Stream Order Management System and market access gateways to trade on domestic equity stock exchange Bolsa Mexicana de Valores and derivatives platform MexDer from a single workstation.
According to SunGard, its connectivity tools will help BBVA handle multiple client order flows, create new trading strategies and facilitate client connectivity to both Mexican exchanges via SunGard's Global Network.
“SunGard's solutions helped us to manage order flow from other BBVA offices more efficiently, while offering advanced trading services on the Mexican cash and derivatives exchanges,” commented José Acebes, global equities executive director for wholesale banking and asset management at BBVA.
“Mexican markets are among the most sophisticated in Latin America. Thanks to recent regulatory and technological changes, these markets are due to attract new investors and high-frequency trading firms,” added Yassine Brahim, president of SunGard's global trading business. “SunGard's strategy to open local offices and launch new SGN hubs in the region, while developing access to new markets such as Chile, Colombia and Peru, helps support customers such as BBVA in their global strategies.”