SunGard is expanding the execution services of its newly-consolidated broker-dealer, SunGard Brokerage & Securities Services, with trading technology from Fox River.
Fox River Execution Solutions will add algorithms, sponsored access, sales trading and access to an alternative trading system to SunGard's broker-dealer, which offers brokerage products and services designed to fulfill customer trading and commission management needs via one relationship. The Fox River technology will help customers reduce overall latency reaching external venues to improve fill rates and execution price.
"SunGard's goal is to imbed high frequency trading techniques into our full suite of execution services with a focus on customer service," says Bob Santella, head of SunGard's capital markets US trading software and brokerage business.
The Chicago-based Fox River, founded by former trader Joe Ritchie, specializes in developing algorithmic trading software, designed to mimic trader behavior, and execution services to institutional firms. The software focuses on equities and exchange-traded funds. SunGard acquired the company in 2010 to tap into this expertise. The terms of the deal were not disclosed
In a statement for SunGard, Denean Williams, chief executive and investment officer of Cameron Capital Management said that SunGard, by bringing Fox River into its consolidated broker-dealer, "has created a simpler way for us to do business."
"Working with this technology and with a SunGard team that delivers exceptional service has helped us customize advanced trading strategies," he said.