Financial technology provider SunGard is to consolidate its high-touch execution services trade desk into its Valdi Liquidity Solutions business, uniting the firm’s high- and low-touch trading capabilities.
SunGard’s Valdi Liquidity Solutions offers execution and clearing services to both buy- and sell-side institutions, while the company’s trading desk manages agency-only equity trades for US buy-side customers.
Valdi customers will now be able to choose between both methods of execution through a single broker-dealer. In addition, Fox River Execution, SunGard’s algorithmic technology-focused brokerage, will also be rolled into Valdi by the end of 2011, enabling SunGard’s trading desk to offer advanced algo solutions for options in addition to equities.
“The consolidation will help pull all of SunGard’s execution abilities into one broker-dealer relationship, instead of the three that the firm currently uses,” said Bob Santella, president of broker operations for SunGard’s global trading business. “Customers will see a more coherent unit with improved abilities. They will also benefit from lower costs.”
Valdi Liquidity Solutions provides customers with direct access to NYSE Euronext and is looking to expand its algorithmic trading capabilities outside the US, starting in Canada.