RiverCross ATS has selected SunGards Assent to clear and settle trades on its fully-automated dark pool.
RiverCross ATS, an independent, agency-only alternative trading system, offers the sell-side continuous crossing services for both block and non-block orders in a secure environment. With SunGards Assent company will manage to increase post-trade efficiency and decrease miscellaneous infrastructure requirements.
Assent Correspondent Clearing Services help firms achieve cost efficiencies in clearing and settling equity and option transactions. In the selection process RiverCross ATS was pleasantly surprised with Assents customization capabilities as well as its automation, speed and customer-centric approach via dedicated account management.
Assent Correspondent Clearing Services support proprietary trading firms, institutional agency firms, and other broker-dealers including electronic communication networks (ECNs) and alternative trading systems (ATSs). SunGards Assent Correspondent Clearing Services provide and utilize a host of integrated features including risk management and portfolio analysis tools, purchase and sales processing, and OASYS and ALERT Direct products from Omego LLC.
RiverCross selected SunGard because of its willingness to provide a custom-designed clearing system in Assent, says Paul Onderdonk, RiverCross. We are experiencing growth in volume and need a reliable, efficient clearing system, as well as a scalable architecture that can handle increasing capacity needs.
RiverCrosss selection of SunGards Assent Correspondent Clearing Services demonstrates our commitment to providing efficient, cost-effective solutions to alternative trading venues, in addition to our traditional customer base, says Carmen Sturm, managing director, clearing, SunGard’s Assent business unit.
L.D.