Financial technology provider SunGard is to link its GL Net low-latency market data and order routing network to Orange Business Services – Trading Solutions’ trading infrastructure to reduce technology and administrative burdens for mutual buy- and sell-side clients.
Orange Business Services – Trading Solutions, a subsidiary of Orange Group, the France Telecom-owned telecoms firm, provides voice and electronic trading infrastructure and services for financial markets participants. GL Net, an application service provider (ASP)-based platform, connects SunGard clients to around 80 exchanges and trading venues globally.
Philippe Carré, global head of connectivity for SunGard’s global trading business, told theTRADEnews.com that the agreement would support the needs of a growing number of clients that want to trade directly into a wider range of “exotic” markets without the additional expenditure and IT resources typically associated with the underlying technology and communications infrastructure.
The companies said that linking the two networks would help customers “to benefit from the ability to reach a wider financial services community and utilise additional services”. Work on interconnecting the two networks started earlier this month.
Sébastien Jaouen, head of trading community services, Orange Business Services – Trading Solutions said, “Adding SunGard’s ASP platform to our network strengthens our community by delivering instant direct access to trade on multiple markets around the world.”