Under the agreement, BRASS will supply the application hosting, eliminating the need for customers to build, manage and support the program trading infrastructure. Portware will provide application development and ongoing development support. The turnkey solution will help customers to more quickly implement program trading capabilities.
SunGard will also provide integration with the BRASS Broker Direct U2 solution for smart routing and market access, as well as the BRASS Order Management System, for straight-through processing and compliance capabilities. In addition, SunGard will deliver market data, as well as level one and two customer support.
"Our ability to provide automated portfolio trading capabilities through Portware will help deliver an integrated, fully resilient solution, with the low-cost, security and reliability benefits that the ASP delivery model imparts," said Patrick Lynch, president of SunGardâs BRASS business unit. "This solution will allow firms to add program trading to their menu of services quickly and easily, to help better meet the needs of their customers."
Eric Goldberg, chief executive officer of Portware, said, "Offering the Portware solution on a service bureau basis through BRASS will help customers reduce infrastructure, development, operation and compliance costs. Portware Professionalâs enterprise execution management platform provides BRASS users with advanced program trading tools such as real-time risk, P&L and TCA to help better manage order flow."