CBOE Stock Exchange is a fully electronic, Regulation NMS-compliant marketplace, offering strict price-time priority for all participants. SunGardâs Assent Liquidity Services has a suite of market access solutions for both buy- and sell-side institutions, and includes sponsored access, directed and smart order routing, dark aggregation, advanced algorithms and an alternative trading system.
CBSX will leverage Assent Sponsored Accessâ high-speed, low-latent direct connectivity to help it gain access to better-priced markets. This will help CBSX to decrease latency in the trade lifecycle and better fulfill its best execution obligations. Assent Correspondent Clearing services will help CBSX to increase post-trade efficiency, while helping to decrease infrastructure requirements and clearing and settlement costs.
âCBSX is committed to providing our growing set of clients with advanced technology at a low cost, and SunGard provides us with a low-latency, customized solution to help us reduce our operational expenses,â said David Harris, CBSX chief executive officer. âLeveraging Assent for sponsored access, routing and clearing will help us incorporate economies of scale and operational efficiencies.â
Raj Mahajan, president of SunGardâs trading business, said, âSunGardâs Assent Liquidity Services will help provide CBSX with a customizable, cost-effective, execution and clearing solution. We are committed to providing our customers with multiple solutions to help streamline and reduce latency in the transaction lifecycle while reducing costs.â