Technology provider SunGard has launched new connectivity services that enable its clients to trade on Brazilian securities, commodities and futures exchange BM&F Bovespa.
SunGard’s application service provider (ASP)-based connectivity services allow BM&F Bovespa members to outsource the procurement and management of hardware, software and telecommunication links required for market access. The link grants clients 24/7 access to the exchange, and SunGard provides both local and international customers with service and support in both English and Portuguese.
According to SunGard, the connectivity services will help clients trade on BM&F Bovespa’s cash and derivatives markets using the same screen. Local brokers can use SunGard’s workstations and consolidated pre-trade risk management solution to trade simultaneously on BM&F (equities) and Bovespa (derivatives), the firm said. Customers can also trade internationally using GL Net, SunGard’s low-latency market data and order routing network.
Cícero Augusto Vieira, chief operating officer of BM&F Bovespa, said in a statement that the exchange has been developing its direct market access (DMA) business, which accounted for 156,262 trades in July, up from 112,621 in June.
“We welcome initiatives that can help our members reach our markets more easily and cheaply,” he said. “With its ASP-based market connectivity services, SunGard can help us gain new local and international trading customers.”
Yassine Brahim, president of SunGard’s global trading business, added, “The Brazilian market is attracting more and more DMA orders. We’re demonstrating that, through our ASP-based market connectivity services, SunGard can now respond to local and international demand for trading on the exchange while helping control the costs of market connectivity.”
SunGard already offers ASP-based connectivity to more than 80 exchanges and market centres worldwide.
BM&F Bovespa was formed in 2008 by the merger of the Brazilian Mercantile & Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa). SunGard’s global trading business was created from trading technology firm GL Trade, which SunGard acquired in 2008.