Oppenheimer & Co, a US broker-dealer, has implemented SunGard’s Brass Liquidity Services algorithmic suite to help improve trading performance for its clients.
According to SunGard, the firm’s execution algorithms will provide Oppenheimer’s traders with comprehensive historical statistics and real-time monitoring of market conditions to help them capitalise on available liquidity. SunGard’s Brass algorithms can help users take into account the trade-off between risks and expected returns, thus facilitating risk-adjusted performance.
“Clients can use our service to help tailor the tools they require to match their business strategy. Some firms like algos straight from the box, but Oppenhemier also wanted to customise their algorithms to suit their needs and make use of our analytics service,” Leslie Barbagallo, executive vice president of SunGard Trading, told theTRADEnews.com.
Brass was launched in June 2008 to offer a suite of tools that integrate global markets and decrease overall execution costs. As well as an algorithmic trading platform, the toolkit consists of a order management system, dark liquidity aggregator – both already employed by Oppenheimer for its US equity capital markets desk – DMA tools, trade matching functionality, compliance analysis and reporting.
“Oppenheimer will also be able to connect with minimal extra costs as they are already connected to the Brass service,” added Barbagallo.