Technology firm SunGard has rolled out parts of its Brass Liquidity Services suite to the National Stock Exchange (NSX) and the RiverCross ATS crossing network.
SunGard’s Brass Liquidity Services is a suite of market access solutions for both buy- and sell-side institutions, and includes sponsored access, directed and smart order routing, dark aggregation and advanced algorithms.
NSX will use the Brass Sponsored Access tool to help it with direct connectivity to protected venues, electronic communications networks and dark pools.
SunGard claims the tool’s dual-routing infrastructure will help NSX fulfill both its best execution and Reg NMS obligations by supporting exchange requirements to route away flow to any of the Reg NMS protected venues showing a better price. Additionally, the dual structure will provide NSX with a backup routing infrastructure and a cross-platform failover mechanism. NSX will also use SunGard’s correspondent clearing services.
Separately, RiverCross ATS will use the Brass infrastructure to host its dark pool, which services sell-side providers.
The connection to RiverCross will give Brass customers direct connectivity to a dark liquidity pool and another option to execute order flow before quoting in displayed markets. Sungard believes the integration will help drive order flow from Brass’s customer base of over 130 sell-side institutions to RiverCross.
“NSX’s selection of SunGard demonstrates how we strategically partner with our customers to provide tailored, complete solutions that support all areas of the business,” said Raj Mahajan, president of SunGard’s trading business, in a statement.
On the RiverCross ATS partnership he added: “This relationship offers a value-added service to our customers by providing increased access to a dark pool that is expected to have a high degree of system up-time and scalability.”