06 January 2009 News

 

Oppenheimer & Co using SunGard BLS algorithms

Oppenheimer & Co's Equity Capital Markets group is using SunGard's Brass Liquidity Services algorithms supplied via direct access trading firm Assent, to try and help it better serve clients, reduce trading costs, and improve productivity and performance. The Brass Liquidity Services algorithm strategy suite is intended to provide Oppenheimer traders with historical statistics and real-time monitoring of market conditions, in order to help them make more informed decisions and capitalise on available liquidity.  Brass Liquidity Services Algorithms can potentially facilitate enhanced risk-adjusted performance by making trade-offs between risks and expected returns.

Oppenheimer is already using a suite of SunGard trading solutions, including the Brass order management system for listed trading in its US equity capital markets desk; the SunGard TotalAccess execution management solution for direct market access in its proprietary trading business and the Brass Liquidity Services Dark Pool Aggregator for a single point of access to reach specific dark venues.

Peter Giordano, executive director of Institutional Equities for Oppenheimer, said, "We decided to use SunGard's algorithms for several reasons. We appreciate SunGard's depth of experience, and its eagerness and timeliness in customizing the Brass algorithms to our specifications demonstrates how well it understands our business. Rounding out our use of SunGard trading solutions with the addition of Brass algorithms helps us to get the most out of our IT investment through streamlined integration, full transaction lifecycle management and ongoing cost efficiencies."