SunGard announced Tuesday the launch of BRASS Buy-Side Direct, a direct market access system targeting buy-side customers and their broker sponsors.
BRASS Buy-Side Direct enables broker-dealers to provide a direct market access platform to
their buy-side clients.
Buy-Side Direct is a customized version of the BRASS Broker Direct U2 DMA system, a full-featured, broker-neutral offering for the sell-side. It includes an order-based blotter, staging and basket capabilities, automated trading, as well as enhanced administrative and risk tools for broker sponsors. The new offering is designed to help buy-side firms lower their costs while gaining greater control and anonymity over their order flow.
Buy-Side Direct links with SunGard’s BNET broker-to-broker routing system for connectivity to more than 200 brokers. SunGard also is planning to enhance the system to include access to major algorithmic trading destinations.
Brokers providing the system to their clients can leverage their existing BRASS infrastructure to receive order flow and help enable straight-through processing. BRASS Buy-Side Direct can be provided to clients on a white-label basis.