Banca Akros goes live with SGN 05 July 2011Milan Reporter: Ben Wilkie
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Italian investment bank Banca Akros has gone live on the SunGard Global Network (SGN), SunGard’s low-latency market data and order routing network, to provide direct access for international investors to SABE, the bank’s fixed-income smart routing facility. SGN can provide buy-side investors with order routing to Banca Akros. SABE then routes these orders for matching by the bank or at multiple competing trading venues, in order to deliver best execution.
Tullio Grilli, head of fixed income brokerage at Banca Akros, said, "SABE was the first smart order router in Italy. It went into operation on MiFID day one in 2007 and is now connected to more than 20 trading venues. We want to increase the visibility of both Banca Akros and SABE for international investors. We are pleased that the global investor community connected to SGN will now have direct access to SABE’s best execution capabilities."
Raj Mahajan, president of SunGard's global trading business, said, "There is increasing demand in the European fixed income markets to maximise access to available liquidity and improve execution quality. SABE is an innovative initiative that responds directly to this demand, and we are pleased to work with Banca Akros to leverage SGN and support the bank’s strategy of international expansion."
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