Sanlam IM joins Peresys’s order routing network

South African buy-side house Sanlam Investment Management has joined financial technology provider Peresys’s FIX-based trading network.
By None

South African buy-side house Sanlam Investment Management (SIM) has joined financial technology provider Peresys’s FIX-based trading network.

The three-year agreement allows Peresys to route SIM’s equities, derivatives and other orders via its FIX-based messaging hub and network, which offers access to a range of asset classes and trading methodologies as well as African brokers, exchanges and other counterparties worldwide.

The network gives SIM a single interface for trading equities, bonds, derivatives and money markets, and can be used for high-touch orders, direct market access, algorithmic trading and trade reporting.

The benefits of the deal for SIM include “continued service delivered by Peresys as the preferred carrier, one point of contact for all our electronic order routing and the wider use of FIX throughout our cluster of businesses,” said Gerard Barnardt, SIM’s chief information officer, in a statement.

He added, “SIM takes pride in adding additional value for clients and with a highly efficient trading process, we are able to execute trades very cost-effectively, thereby passing on the saving to clients.”

SIM had ZAR240 billion (€22 billion) in assets under management at the end of 2008.

Peresys, based in Cape Town, South Africa, specialises in delivering FIX-enabled applications to the buy- and sell-side.

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