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IXE Financial Connects To SunGard Global Network

IXE Financial Group, a Mexico-based broker dealer on the Bolsa Mexicana de Valores (BMV), has connected to the SunGard Global Network (SGN Securities) to provide its clients with enhanced order types for trading on the BMV. The new connectivity will be offered through SunGard GL Win, a multi-asset trading station.

According to the SunGard, SGN accesses 2,000 financial institutions and 110 markets globally and provides order routing for equities, fixed income and listed derivatives, and assists in automating the entire trade lifecycle.

SunGard said that IXE has also deployed its GL Tactics, an algorithmic and automated trading solution, which it uses through implementation of GL Win. GL Tactics empowers the IXE to create, deploy and execute trading strategies and algorithms such as TWAP, VWAP, and Percent Volume to help its clients competitively access and quickly execute trades.

Carlos Manuel Ramirez Cervera, director of electronic services at IXE, said: “SGN is IXE’s preferred connectivity option because it is a secure global network with international private lines dedicated exclusively to market data and order routing.”

Raj Mahajan, president trading business at of SunGard, said: “SunGard is dedicated to helping IXE efficiently access more liquidity, by providing enhanced order types and algorithms, and by helping expand its network of broker/dealer firms executing on the BMV. Customizing and developing unique order types and being connected to SGN helps IXE competitively execute in markets like Hong Kong and the US, helping it find revenue opportunities and lower costs through a single provider.”