Technology firm SunGard has agreed to offer customers of its connectivity network access to NYSE Arca Europe, the displayed pan-European multilateral trading facility (MTF) owned by exchange group NYSE Euronext.
The agreement will allow SunGard clients that are not already members of the MTF to connect to it at no additional fee for an initial period. The move mirrors a deal struck between NYSE Arca Europe and fellow trading technology provider RTS Realtime Systems Group on Wednesday.
NYSE Arca Europe joins eight other European MTFs on SunGard’s application service provider-based connectivity network. The network includes SunGard’s GL Stream suite, which aggregates market data for each instrument from competing platforms and has a built in smart order router that works in conjunction with clients’ algorithmic strategies.
“Building partnerships with leading service providers to help ensure a smooth connectivity process for our clients is a key step forward in building our business across Europe,” said Virginie Saade, head of NYSE Arca Europe, in a statement. “We are confident that our partnership with SunGard will help us to reach new customers.”
“SunGard’s ASP-based framework is designed to allow customers to try different platforms and trading approaches, helping them to make changes easily and cost-effectively,” added Vincent Burzynski, chief product officer for SunGard’s global trading business unit.