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February 18, 1999


By CBR Staff Writer

SunGard Data Systems Inc has strengthened its position in the brokerage software market with the acquisition of Automated Securities Clearance Ltd (ASC), a privately-owned New Jersey-based company with a list of blue chip clients. The price was not disclosed. ASC is responsible for BRASS, an automated order routing and execution system used by 150 brokers across the US and BRUT, a communications network that provides access to the Nasdaq marketplace and accounts for around 50% of the Nasdaq order flow. James Mann, SunGardÆs chairman and CEO said that recent regulatory initiatives by the Securities and Exchange Commission have effectively increased the value and importance of the BRASS and BRUT systems.

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