Bolsa de Valores de Colombia (BVC), the official Securities Exchange of Colombia, has certified SunGard as an international market data provider. SunGard will source market data directly from the exchange and distribute it globally via the SunGard Global Network (SGN), which provides multi-asset order-routing capabilities for institutional asset managers, hedge funds and broker dealers.
The addition of market data will complement SunGard’s existing connectivity in Colombia: BVC certified the SunGard Valdi software platform for Exchange members to use on the BVC trading engine in November 2011.
The IMF has forecast that Colombia's 2012 GDP will grow by 4.7%, leading to global interest in Colombian trading opportunities. BVC is also a founding member of the Mercado Integrado Latino-Americano (MILA), the new pan-Latin American alliance of stock exchanges.
Maria-Jose Ramirez, commercial vice president at Bolsa de Valores de Colombia, said, “BVC is a trading destination not only for trading participants in Latin America, but increasingly for European and American financial institutions. As a growing player in the international community, BVC can leverage SunGard’s technology to help increase our network and improve the reach of our market data globally.”
Philippe Carré, global head of connectivity of SunGard capital markets business, said, “Access to Bolsa de Valores de Colombia’s real-time data and brokerage trading connectivity through Exchange members can help SGN members increase their trading efficiencies and take advantage of the growth opportunities in this emerging market.”