Brass customers will have the ability to access each UBS trading strategy through their current Brass interfaces. They will also be able to execute each strategy based on their own parameters such as pricing, pacing and aggression level, said SunGard.
UBS’s direct market access (DMA) and algorithmic trading suite includes standard algorithms for VWAP and TWAP, liquidity seeking algorithms, such as Tap and TapNow, and a variety of other strategies. SunGard’s Brass is an integrated trade order, execution and compliance management system supporting Nasdaq, listed, listed market making and sales trading for sell-side institutions.
Will Sterling, global head of direct execution at UBS, said: We are excited to be able to deliver DMA and advanced algorithms – including Tap – to SunGard’s significant broker-dealer network. In addition to expanded access to algorithms, customers of SunGard’s Brass will be able to access the quality, non-displayed liquidity in PIN ATS, UBS’s dark liquidity pool. This will help enhance the brokers’ ability to seek price improvement and minimize market impact for the benefit of their clients.
Satish Mujumdar, COO of Brass at SunGard, said: Giving Brass customers access to advanced execution strategies is part of our effort to help firms increase their profitability and diversify their businesses. With access to UBS’ DMA and algorithmic trading strategies, our customers will have access to an additional tool set helping them improve both efficiency and overall execution quality.
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