SunGard extends algorithms to Canadian market 18 June 2012Canada Reporter: Georgina Lavers
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SunGard has extended its suite of algorithms to cover the Canadian equities market as well as the US. Traders can trade in one currency and settle in another, providing access to traditional and non-traditional trading venues in both regions.
Sang Lee, managing partner at Aite Group, said: “As the Canadian equities markets accelerate the use of electronic trading and move beyond the cash equities market, trading firms are looking for sophisticated algorithms.
The buy side is becoming accustomed to leveraging more advanced trading tools, such as smart order routing, which is adding to that demand. The quality of the algorithms will become a critical factor for the buy side when they select platforms, putting the impetus on brokers to provide them.”
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