Itaú BBA Securities, the brokerage arm of Brazilian bank Itaú Unibanco, has connected to the SunGard Global Network (SGN), the order routing network for equities, listed derivatives and fixed income, which connects to over 500 brokers and 110 markets around the world.
The network allows buy-side firms to connect directly to brokers without the need for bilateral links. SGN says it will help Itaú better serve its clients increasing their access to liquidity.
Itaú BBA Securities has also gone live with technology provider SunGard's Valdi Order Management System, Valdi Liquidity Services and GL Selector to help it manage execution, trading and risk from a single platform.
SunGard's Valdi will help Itaú trade different types of securities on multiple markets and automate the trade lifecycle across asset classes. GL Selector provides pre-trade risk management on all equities and derivatives order flow, helping Itaú traders reduce risk by centralising risk management capabilities.
Christian Egan, chief executive officer of Itaú BBA Securities, said, “The value of SunGard's offering is that it uniquely provides technology that is venue neutral in addition to providing competitive execution services.”
The broker, which is also connected to trading systems supplier Fidessa's global connectivity network, has offered direct market access to the Brazilian derivatives and equities exchange BM&F Bovespa since March 2009.