Global technology vendor Sungard has connected its Front Arena cross-asset order management system (OMS) to Burgundy, a multilateral trading facility for Nordic stocks.
According to Sungard, Front Arena now has access to all the major Scandinavian liquidity pools and will enable its customers to maximise best execution opportunities. Clients will be also have the ability to benefit from Front Arena’s smart order routing capability, which is integrated with the OMS.
“Burgundy can help Front Arena customers reduce fees and achieve best execution,” said Olof Neiglick, chief executive officer, Burgundy, in a statement.
“Connecting SunGard’s Front Arena to Burgundy will help our customers access competitive prices and lower purchasing fees on transactions,” added Tim Dodd, head of product management for SunGard’s Front Arena business unit. “We worked quickly with Burgundy to help build the connectivity that will deliver added-value to our customers.”
Burgundy was launched on 8 May and is still in the process of completing its stock rollout. It currently offers trading in 12 Swedish stocks and 5 Danish stocks. Norwegian stocks are due to be added to the platform from tomorrow.