SunGard announced Monday that it has signed an agreement with automated trade company Portware to distribute a private-label version of the Portware Professional trade management system, integrated with SunGard’s BRASS OMS, Broker Network, and DMA capabilities, on a service-bureau basis.
Under the agreement, BRASS will supply the application hosting, eliminating the need for customers to build, manage and support the program trading infrastructure.
Portware will provide application development and ongoing development support. The turnkey solution is designed to help customers to more quickly implement program trading capabilities.
SunGard will also provide integration with the BRASS Broker Direct U2 solution for smart routing and market access, as well as the BRASS Order Management System, for straight-through processing and compliance capabilities.
“Our ability to provide automated portfolio trading capabilities through Portware will help deliver an integrated, fully resilient solution, with the low-cost, security and reliability benefits that the ASP delivery model imparts,” said Patrick Lynch, president of SunGard’s BRASS business unit. “This solution will allow firms to add program trading to their menu of services quickly and easily, to help better meet the needs of their customers.”