BNY Mellon company Pershing picks SunGard 20 August 2013New Jersey Reporter: Georgina Lavers
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Pershing LLC, a BNY Mellon company, has selected SunGard to provide market connectivity to its newest international broker-dealer in Canada.
SunGard’s SaaS-based Valdi Market Access will help Pershing to connect directly to Canadian trading venues, supporting the firm’s growth plan to offer its clients enhanced trade execution in North America.
Prior to implementing Valdi Market Access for Canadian trading, Pershing relied on multiple local brokers for execution.
By accessing Canadian trading venues directly, the aim is for the firm to deliver new execution services to its customers, while reducing cost by outsourcing the service to SunGard.
“Offering our clients direct access to Canadian markets was a critical step for Pershing’s growth plan. Using SunGard’s hosted infrastructure allows us to focus on our core business while better controlling costs,” said Derek Penn, managing director of Pershing LLC.
“SunGard is seeing more and more firms looking to Canada as a focus for their North American trading businesses,” said James Corrigan, senior managing director, SunGard's Valdi.
“In order to achieve agile growth in this in-demand market, these firms must be equipped with solutions and services that can offer their clients direct access to trading venues and efficient models to help control costs.”
SunGard’s Valdi Market Access delivers access to more than 110 trading venues worldwide.
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