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SunGard Expands SaaS-Based Market Connectivity to NYSE BondMatch

SunGard, an IT services company, announced that it has extended its Software-as-a-Service (SaaS (News - Alert))-based market connectivity to NYSE BondMatch, the European Multilateral Trading Facility (MTF).

MTF was launched by NYSE Euronext for professional investors to trade corporate, financial and covered bonds.

“To help meet the demands of bond market participants for transparency, liquidity, pre- and post-trade reporting and post-trade services, NYSE Euronext is launching NYSE BondMatch,” said Nathalie Masset, deputy director, European debt markets at NYSE Euronext, in a statement. “SunGard's Valdi Market Access Service offering will facilitate access to our marketplace and consequently should help us grow our business.”

Leveraging SunGard’s connectivity, exchange members and their direct market access clients can trade on electronic markets from any workstation or application. Utilizing the SunGard trading gateways and trading workstation with market-specific trading features, investors and traders can ensure efficient access to NYSE BondMatch.

The new service will be fully integrated with SunGard’s Valdi hosted smart routing technology, alongside SaaS-based market access services to other fixed income venues, including EuroTLX, Borsa Italiana's MOT or Hi-MTF. “There is increasing interest in fixed income trading in Europe, resulting in trading firms now requiring greater access to fixed income marketplaces and multi-asset solutions,” said Raj Mahajan, president of SunGard’s global trading business.

“One of the key challenges in capturing liquidity is to determine which liquidity pools to trade on: SunGard's Valdi Market Access Service is an efficient and cost-effective solution that helps trading firms with connectivity and smart order routing reach new trading venues, including fixed income MTFs,” Mahajan added.

Recently, SunGard announced that SunGard Global Network Short-Term Cash Management portal surpassed $100 billion in total money market fund assets. The SGN (News - Alert) Short-Term Cash Management portal is a global compliance, trading and connectivity solution for institutional cash investors.

Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani's articles, please visit her columnist page.