SunGard Brokerage Services says that its Brut trading platform and Townsend Analytics (TAL) have reached an agreement for Brut to offer TAL’s RealTick market data display and direct-access trading technology as an option for clients accessing the ECN.
Brut, an operating unit of SunGard, owns and operates the BRUT ECN, an alternative trading system (ATS) that offers brokers and institutional investors the BRUT Sponsorship Program, participation in SuperMontage and the Nasdaq InterMarket, increased liquidity access, and enhanced order routing capabilities. Since December 2002, Brut’s market share has more than doubled: from 4 percent to over 9 percent in the fourth quarter 2003.
Brut can now provide the buy- and sell-side with trading technology for U.S. equities that can be accessed via the Internet or a dedicated connection. RealTick’s platform offers quotes, advanced charting, analytics, news, alerts, scanners and a variety of other features. RealTick allows Brut customers access to order types available exclusively from Brut.
“Brut is a key player in the destination space and provides our clients with access to an additional liquidity source with a wide variety of advanced order types,” says Stuart Townsend, president, Townsend Analytics. “We are certain the combination of RealTick with access to Brut will provide significant value to the clients of both firms.”
William O’Brien, Brut’s chief operating officer, added that “offering our clients RealTick allows Brut to leverage our business model and strengthen the scope of our value proposition as the low-cost execution utility for the trading community.”
Chicago-based Townsend Analytics was founded in 1985.