CGD Securities picks SunGard to grow Brazil business
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CGD Securities picks SunGard to grow Brazil business 30 October 2013São Paulo, Brazil Reporter: Daniel Jackson
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CGD Securities, a Brazilian division of Portugese-based bank Caixa Geral de Depósitos, has selected SunGard’s hosted Valdi solution to help grow the firm’s business. The firm believes that adopting Valdi will improve trading efficiency and its access to Brazil’s financial markets.
CGD Securities chose SunGard’s SaaS-based Valdi Market Access to help the business grow through easy access to Brazil’s BM&FBOVESPA markets. In addition, CGD will use Valdi to help achieve new efficiencies in their trading operations by taking advantage of a hosted solution. This reduces the need for CGD Securities to invest further in infrastructure.
Alexis Machado, IT superintendent at the firm, said: “Our ambitious development plans required CGD Securities to look for the right solution that combines a high level of local expertise and a strong overall knowledge of international financial markets. SunGard’s Valdi Market Access provides CGD Securities with a fully hosted solution, allowing us to focus on growing our business while leaving the day-to-day operation management to SunGard’s market specialists.”
The hosted solution helps to facilitate integrated access to more than 110 trading venues worldwide, with a particular emphasis on Latin America, where SunGard’s trading solutions have been present for almost 15 years.
Philippe Carré, global head of connectivity, said: “While looking ‘beyond Brazil’ remains a motto for many firms trading in Latin America, the strength and size of the Brazilian market continues to attract interest from financial institutions globally, with local players upgrading their technology and looking at regional expansion.”
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