WAYNE, Pennsylvania and LONDON, June 16 /PRNewswire/ --
SunGard has integrated its SunGard Transaction Network (STN) with Japan-based trading hub, MetaBit. This will help SunGard's buy-side and sell-side customers automate their trading connections with institutions in the Asia-Pacific region thereby helping improve integration, automation and connectivity of the international trade lifecycle.
Based in Tokyo, MetaBit is Japan's only provider of a pure local FIX trading hub providing bilateral order flow for cash equities, index futures, options, and commodity futures, giving buy-side institutions direct electronic access to 34 brokers and ten exchanges.
STN facilitates global execution through a single point of access and the integration with MetaBit now provides bilateral links to each other's regional trading communities from their home markets. In addition, SunGard's Brass, an integrated sell-side trade and order management solution suite, will use STN to provide its U.S. brokerage customers with distribution access to global investment managers.
In the past, institutions used multiple networks to reach various regional pockets of trading. Today, more wealth managers are trading internationally and investing in Europe and Asia-Pacific. STN's comprehensive regional coverage through hub-to-hub connectivity between regions and countries helps eliminate the need for buy-side institutions to maintain separate network connections in these regions. STN provides one connection that offers real-time trading and also uses industry standards such as SWIFT and FIX protocol formats, as well as proprietary trade messaging formats to help maintain operational efficiency.
"Connecting MetaBit's MLH FIX network with SunGard's STN creates a powerful value proposition for MetaBit's Japan and Asian customer base to trade in U.S. markets. At the same time, U.S.-based customers of STN will be offered seamless connectivity to Asia-Pacific. The network-to-network connectivity between MetaBit and STN creates a truly global FIX trading network, built on local, specialized market expertise," said Daniel Burgin, chief executive officer, MetaBit.
Bob Ward, chief operating officer of SunGard's wealth management business, said: "STN's integration with MetaBit provides for a wide-range of coverage and local expertise in the Asia-Pacific region. In today's volatile markets, real-time automated trading networks are essential to facilitate cross-border financial transactions. By providing access to financial markets around the world, STN and Brass are able to help SunGard's wealth management and broker-dealer customers support their global trading initiatives in a fast, efficient and seamless environment."
MetaBit is the provider of MLH (Market Liquidity Hub) an Asian broker portal that currently provides buy sides Direct Market Access (DMA) to 34 brokers and access to ten exchanges. The MLH is accessible through MetaBit's intuitive buy side trading tool XiliX, or via the FIX Protocol. MetaBit is the only provider of pure FIX-to-native exchange connectivity to TSE, OSE, JASDAQ and TOCOM. MetaBit also offers exchange message simulators to Japan's major stock exchanges and actively promotes FIX throughout Asia. MetaBit further offers FIX testing and certification services to the industry. XiliX and MLH are registered trademarks of MetaBit. For more information please visit www.meta-bit.com.
A trade automation, compliance and connectivity solution, the SunGard Transaction Network (STN) links institutions throughout the financial services value chain, facilitating the purchase and sale of many securities types, including U.S. and foreign equities, fixed income, mutual funds, money market funds, certificates of deposit, and commercial paper. Integrated directly with SunGard systems and with third-party systems, STN helps automate the entire transaction lifecycle.
With annual revenue of US$5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo, Brass and STN are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
Adriana Senior of SunGard, +1-718-578-1130, email@example.com