www.securitiesindustry.com/news/22513-1.html?type=pf -
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Published on: 6/10/2008
Last Visited: 9/5/2008
Liquidity Services has been running undercover since the start of the year, deploying the solutions for existing SunGard customers, according to Ralston Roberts, SVP of product strategy at SunGard Brass.Now the company is actively seeking clients.
Liquidity Services is designed to help buy- and sell-side firms find the best price across displayed markets and dark books, said Roberts, adding that the company has been providing sell-side customers with routing technology for 15 years."We have leveraged our team and their experience to build a very low-latency infrastructure to meet the needs of customers," he said.
SunGard will work with clients, added Roberts, examining how they execute trades and providing guidance on tapping dark liquidity in a number of different ways to reduce execution costs.
The routing tool is optimized to hit liquidity at multiple price points, he explained.
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Through a partnership with an algorithm specialist, which Roberts declined to name, SunGard can alter strategies based on a firm's risk parameters and style of trading.SunGard consultants will work with clients to modify and adjust the algorithms over time.
"We offer a base package of algorithms and then bring in a team of our quants who can work with clients to tweak the algorithms to get the best performance," he said."We are just launching this service and have two customers live--one big sell-side firm and one medium-size sell-side firm."SunGard has seen a lot of interest in the service from the buy side, he noted.