SunGard has opened a new hub of its GL Net low-latency market data and order routing network in Sao Paolo, Brazil.
The hub, which is the fifth to be opened in the Americas, will provide international investors with access to BM&FBOVESPA, the Brazilian securities, futures and commodities exchange. Local financial institutions will also gain access to SunGards GL Net network of brokers, and be able to take advantage of direct market access execution services to more than 110 exchanges and liquidity pools.
By opening the new GL Net hub, SunGard will help international investors send electronic orders cost-effectively to Brazilian brokers via GL Net, helping them trade on BM&FBOVESPA and create new investment opportunities.
We view SunGards investment in its Sao Paulo GL Net hub as recognition of the strength of Brazils capital markets, and of the potential of this and other South American cities to become international financial centers, says Ccero Augusto Vieira, chief operating officer, BM&FBOVESPA. With the additional trading activities that GL Net can help us to offer our customers, were confident of attracting new members and investment to the exchange.
SunGards GL Net hub in Sao Paolo will help provide our Latin American customers access to worldwide capital markets, says Vincent Burzynski, chief product officer for global trading business, SunGard.
It will also help to meet an increasing demand from our customers for local and international connectivity. Demand for new investment opportunities and the growth of electronic trading are leading us to invest in the expansion of GL Nets reach, with hubs opened recently in Warsaw, Tel Aviv, Mexico City and now Sao Paulo.
L.D.