The Chicago firm that SunGard is acquiring specializes in providing algorithmic trading software and exeuction services to institutional firms. The software focuses on equities and exchange-traded funds.
Fox River was founded by Joe Ritchie, a former trader. Its best-known product is Trader Logic.
The Fox River business will become part of SunGard’s trading business, to help SunGard customize algorithmic trading services to customers.
Fox River Execution’s technology offerings, including Fox Trader, Fox Blaster and Fox Spotlight, will help enhance SunGard’s trading technology by providing customizable execution algorithms, an ETF liquidity discovery and trade execution services, and post-trade analytics.
These services will complement SunGard’s Valdi software suite for multi-asset class trading, and the SunGard Global Network (SGN), a trade automation and connectivity network.
Ronald Santella will remain the leader of Fox River Execution’s management team.