IT firm Sungard’s acquisition of trading technology company GL TRADE will give European buy-side firms better access to Sungard’s trading product suite and allow Sungard’s US buy-side clients to tap brokers in Europe and Asia.
A senior executive at Sungard’s Global Trading division, the unit formed from GL TRADE, told theTRADEnews.com that the firms’ integration would allow Sungard to expand its European buy-side client base by using GL TRADE’s European distribution for its trading products.
Yassine Brahim, segment president of Global Trading at Sungard, told a press conference in London yesterday that the acquisition, completed in November last year, will also enable Sungard’s US buy-side clients to broaden their investment horizons.
“The US buy-side community wants to move into Europe and Asia,” said Brahim. “GL TRADE is bringing a brokerage community that is very important to Sungard’s buy-side community.”
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