Pershing picks SunGard for Canada
20 August 2013 New Jersey
Image: Shutterstock
Pershing LLC, a BNY Mellon company that provides prime brokerage and broker-dealer solutions, has selected SunGard to provide market connectivity to its newest international broker-dealer in Canada.
SunGard鈥檚 SaaS-based Valdi Market Access will help Pershing to connect directly to Canadian trading venues, supporting the firm鈥檚 growth plan to offer its clients enhanced trade execution in North America.
Prior to implementing Valdi Market Access for Canadian trading, Pershing relied on multiple local brokers for execution.
By accessing Canadian trading venues directly, the aim is for the firm to deliver new execution services to its customers, while reducing cost by outsourcing the service to SunGard.
鈥淥ffering our clients direct access to Canadian markets was a critical step for Pershing鈥檚 growth plan. Using SunGard鈥檚 hosted infrastructure allows us to focus on our core business while better controlling costs,鈥� said Derek Penn, managing director of Pershing LLC.
鈥淪unGard is seeing more and more firms looking to Canada as a focus for their North American trading businesses,鈥� said James Corrigan, senior managing director, SunGard's Valdi.
鈥淚n order to achieve agile growth in this in-demand market, these firms must be equipped with solutions and services that can offer their clients direct access to trading venues and efficient models to help control costs.鈥�
SunGard鈥檚 Valdi Market Access delivers access to more than 110 trading venues worldwide.
SunGard鈥檚 SaaS-based Valdi Market Access will help Pershing to connect directly to Canadian trading venues, supporting the firm鈥檚 growth plan to offer its clients enhanced trade execution in North America.
Prior to implementing Valdi Market Access for Canadian trading, Pershing relied on multiple local brokers for execution.
By accessing Canadian trading venues directly, the aim is for the firm to deliver new execution services to its customers, while reducing cost by outsourcing the service to SunGard.
鈥淥ffering our clients direct access to Canadian markets was a critical step for Pershing鈥檚 growth plan. Using SunGard鈥檚 hosted infrastructure allows us to focus on our core business while better controlling costs,鈥� said Derek Penn, managing director of Pershing LLC.
鈥淪unGard is seeing more and more firms looking to Canada as a focus for their North American trading businesses,鈥� said James Corrigan, senior managing director, SunGard's Valdi.
鈥淚n order to achieve agile growth in this in-demand market, these firms must be equipped with solutions and services that can offer their clients direct access to trading venues and efficient models to help control costs.鈥�
SunGard鈥檚 Valdi Market Access delivers access to more than 110 trading venues worldwide.
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