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April 9, 2009

SunGard opens new GL Net hub in Sao Paulo

Direct market access execution services to more than 110 exchanges and liquidity pools

By CBR Staff Writer

SunGard, a provider of software and processing services for financial services, higher education and the public sector, has opened a new hub of its GL Net low-latency market data and order routing network in Sao Paulo, Brazil.

According to the company, the hub will provide international investors with access to BM&FBOVESPA, the Brazilian securities, futures and commodities exchange. Local financial institutions are also expected to gain access to SunGard’s GL Net network of brokers, and be able to take advantage of direct market access execution services to more than 110 exchanges and liquidity pools, the company added.

By opening the new GL Net hub, SunGard said that it will help international investors send electronic orders cost-effectively to Brazilian brokers via GL Net, helping them trade on BM&FBOVESPA and create new investment opportunities.

Vincent Burzynski, chief product officer for SunGard’s global trading business, said: SunGard’s GL Net hub in Sao Paolo will help provide our Latin American customers access to worldwide capital markets. It will also help to meet an increasing demand from our customers for local and international connectivity.

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