RiverCross ATS has selected SunGard’s Brass infrastructure to host its fully-automated dark pool servicing sell-side providers.
The connection to RiverCross will give customers of SunGard’s Brass direct connectivity to a unique pool of dark liquidity and another option to execute order flow before quoting in displayed markets.
RiverCross ATS, launched in May of 2008, is a matching platform that offers continuous crossing services for both block and non- block orders in a secure environment, running in a high-availability, fault-tolerant mode. SunGard’s Brass is an integrated trade order, execution and compliance management application supporting Nasdaq, listed, listed market making and sales trading for sell-side institutions.
“SunGard has demonstrated reliability in providing hosted applications for US equities and listed options trading, which ultimately led us to launch using SunGard’s Brass,” says Paul Onderdonk, RiverCross.
“We are pleased that RiverCross has chosen SunGard for the mission-critical role of hosting and providing a reliable infrastructure to power its new alternative trading site. This relationship offers a value-added service to our customers by providing increased access to a dark pool that is expected to have a high degree of system uptime and scalability,” says Raj Mahajan, president, SunGard’s trading business.