News – SunGard Opens Trading Network Hub in Chile; Offers Valdi Market Access on Bolsa de Comercio de Santiago
December 12, 2011 — Santiago, Chile
SunGard has established a SunGard Global Network (SGN) hub in Santiago, Chile. SGN provides global order routing, market data and associated services on 120 markets worldwide, linking 2000 asset managers and 500 broker dealers. The Santiago hub, SunGard’s third in Latin America after Mexico City and Sao Paulo, will provide international investors with access to Bolsa de Comercio de Santiago (BCS), Chile’s equity and derivatives exchange. In addition, financial institutions in Chile will be able to access the SGN brokerage community.
SunGard will also offer Valdi Market Access to Chile, which delivers Software-as-a-Service* (SaaS) based connectivity to markets worldwide through SGN. This direct market access service gives exchange members and their clients the ability to trade on electronic markets from any application connected to SGN. It is fully managed by SunGard, helping reduce their infrastructure and support costs. For Bolsa de Comercio de Santiago (BCS), the Valdi Market Access servers will be directly co-located at the exchange, offering low latency services.
Mr. Andres Araya Falcone, chief information officer of the Bolsa de Comercio de Santiago, said, “Chile continues to grow, and the region is focused on being an important player in the global economy. SunGard is supporting this growth by providing electronic trading solutions and global connectivity to market participants in Chile, which will help our exchange members find new investment opportunities. In facilitating exchange connectivity, this should also help attract new firms to the Bolsa de Comercio de Santiago.”
Danielle Tierney, an analyst at Aite Group, said “Opening a new hub in Santiago is a very strategic placement for SunGard. Santiago is the third largest individual exchange in Latin America by market capital and volume, in addition to being a part of the MILA integration of the Andean exchanges. By establishing this additional point of connectivity, SunGard has essentially made its SGN hub into a pan-LatAm offering.”
Philippe Carré, global head of connectivity of SunGard’s global trading business, said, “SunGard’s Valdi and SGN address the connectivity and execution challenges of trading multiple asset classes on multiple markets. SunGard already offers Valdi and SGN solutions in Argentina, Brazil, Chile, Colombia, Mexico and Peru, helping traders in Latin America access new markets and diverse liquidity, as well as helping international traders access Latin America markets.”
*SunGard Financial Systems is pursuing a visionary initiative to transform some of the key functionality of its core systems into components creating software-as-a-service (SaaS)-based solutions. Leading this initiative is Infinity, which uses a service-oriented architecture (SOA) development framework, offers a business process management platform (Infinity Process Platform) and a virtualized, on-demand delivery infrastructure.
About Santiago Stock Exchange
Since 1983, the Santiago Stock Exchange has been the indisputable center of the Chilean Stock Markets, providing the standards for domestic and foreign investors.
Its prime objective is to contribute on the development of the Stock Markets and the growth of the country, allowing companies to obtain different financing sources and allowing brokerage houses and investors to trade financial instruments in a transparent and safe environment.
In term of technology, the Santiago Stock Exchange launched its initiative to modernize the equities electronic trading system and developed Telepregon HT, which went live in June 2010. This system is ready for algorithmic trading flow since it supports a throughput of over 3,000+ orders per second with sub-millisecond latency. Santiago Stock Exchange is using FIX 4.4 to enable easier connection via DMA with other exchanges, sell- and buy-side firms and market information vendors. This has greatly facilitated the connection to different networks, such as SunGard.
About SunGard’s Solutions for Global Trading
SunGard’s global trading solutions help buy- and sell-side firms achieve increased performance, low latency and execution across multiple platforms, asset classes and markets. SunGard provides equities, futures, fixed income, options and energy traders with trading, risk management, compliance and surveillance solutions. Linking buy-side firms to brokers, SunGard provides access to liquidity pools as well as order management, advanced execution and smart order routing.
About SunGard
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves over 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit www.sungard.com.
Trademark Information: SunGard, the SunGard logo, SunGard Global Network and Valdi are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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