Abacus Group's platform adds SunGard connectivity and data feed
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Abacus Group's platform adds SunGard connectivity and data feed 30 November 2011New York Reporter: Anna Reitman
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SunGard Global Network (SGN) Securities and MarketMap are providing global connectivity and market data through AbacusFLEX.
MarketMap's integration with the platform will provide hedge funds and investment managers with a market data feed offering asset coverage while SGN Securities integration will give firms the option of bundling financial market and global connectivity through one vendor. As a result, customers gain access to securities and exchange market data with integrated FIX connectivity, in one cloud-based solution.
Raj Mahajan, president of SunGard’s Global Trading business, said, “With MarketMap, Abacus customers have a new compelling alternative for their data needs – a choice that provides access to global, high quality and cost-effective data as well as trading links to more than 500+ broker-dealers around the world through the SunGard Global Network, helping to add value to firms’ trading operations and business growth.”
The Abacus platform streamlines the trade lifecycle from execution to post-trade reconciliation, including, electronic order routing, broker allocations, confirm/affirm and custodian bank notifications.
Chris Grandi, founder and president of Abacus Group LLC, said, “Hedge funds and investment managers want flexible solutions to grow their business without accruing additional data fees or coverage limitations. SunGard Global Network and MarketMap provide a cost-effective, comprehensive and integrated solution that helps meet firms’ data requirements with added FIX connectivity in one offering.”
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