SunGard has extended the order routing connectivity of the SunGard Global Network (SGN) with a new link to GETMatched Europe, GETCO’s European broker crossing network. GETMatched is the centrally cleared crossing network owned and operated by GETCO Execution Services, the client services arm of GETCO, a leading global market-maker. GETMatched matches brokers’ orders with passive flow from GETCO’s European market-making operation.
By adding connectivity to GETCO Execution Services’ GETMatched crossing network, SGN can help SunGard’s customers better manage fragmented liquidity in the European equity markets. With connectivity to major European exchanges, most European Multilateral Trading Facilities (MTF) and dark pools, SunGard offers a full-service solution for access to the European trading landscape.
Virginie Saade, head of European Sales for GETCO, said, "For brokers focused on safeguarding the anonymity of their orders, GETMatched provides an order matching solution that is designed to prevent information leakage and offers direct access to the liquidity of a global market maker. We are active on the most liquid stocks of the UK, France, Italy, Germany, Belgium, Portugal, Switzerland and the Nordic countries, and plan to extend coverage further through SGN."
Philippe Carré, global head of connectivity for SunGard's global trading business, said, “European and global brokers are looking to expand their range of capabilities for electronic trading in Europe, in a drive to help improve hit rates and reduce costs. GETCO Execution Services’ approach is likely to be of interest to many of them, and we are pleased to be working with GETCO as part of the SunGard Global Network community to facilitate that connectivity.”