Back-Office Tech. Emerging Technologies. Buy-Side Technology. Optimizing Decision-Making to Support Business Growth: Data Analytics Holds the Key Just over a year ago, the global capital markets witnessed unprecedented volatility and trading volumes as a direct consequence of the uncertainty precipitated by the Covid pandemic.
SunGard Announces Formation of Global Trading Business
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System Consolidation and System Choice for an Equity Trading Department
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Monitor websites in our network Capital Monitor Energy Monitor. One size does not fit all. Good reviews from customers don't mean the vendor is out of the woods. Two new competitors with significant resources are gunning for BRASS' near monopoly on trader desktops. Nasdaq recently bought Jersey City's Financial Systemware, vendor of the popular Tools of the Trade which allows traders to sweep several market makers' bids and offers simultaneously over SelectNet.
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The firm has spent the last few years developing an OMS. Currently in beta tests at a handful of small firms Nasdaq hopes to launch it early next year. Nasdaq Tools will market to the smallest of the approximately market making firms registered with Nasdaq. New rules requiring electronic trade reporting and a need to stay competitive in an increasingly electronic environment mean even the smallest of trading firms must consider an OMS, Turynsky said. Beta-tester Huberman Financial of Dallas is a typical prospect, processing 1, transactions per day.
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The cost will be lower, according to Turynsky. Nasdaq Tools can charge less partly because it doesn't have to build and maintain a network as does SunGard. Parent Nasdaq already has a vast network of 5, brokerages. Turynsky says the existing Nasdaq network was a key reason why he chose to partner with Nasdaq rather than market his OMS solo.
More than 50, of its famous terminals are deployed in the U. Some of those, especially on the buyside, already offer trading functionality. Bloomberg offers a buy-side OMS called the Portfolio Trading System; an indications of interest service; and an order routing service called the Electronic Equity Marketplace EEM that connects hundreds of buy-side firms to over 80 broker dealers. Bloomberg's Achilles heel is its low penetration rate of Nasdaq trading rooms.
Bloomberg hopes that the added trading features will help it to sell more terminals.
At least one sell-side firm serving institutional clients is interested. Anybody with a Bloomberg terminal can access your book.
SS&C Advent - SunGard Global Network
That is especially important when it comes to the buyside. Despite the star-power behind the new systems, history has shown it is difficult to dislodge SunGard from its perch. RoyalBlue has sold only two systems since it landed in the U. King is confident SunGard can withstand future competitors as well. Friday, April 2,