Sucden Financial, a commodities brokerage arm of the France-based Sucres et Denrees (Sucden Group), has launched Storm, a new direct market access to a range of cash equity and derivatives exchanges and platforms, to bring multi-asset trading facilities to its institutional and corporate clients.
Storm uses Sungard’s GL technology and enables Sucden Financial’s clients to directly trade equities, options, commodity and financial futures on global markets.
Recently, Sucden Financial expanded as a broker to institutions, trading groups, hedge funds and high net worth retail clients. Sungard’s GL technology was chosen as it provides the combination of access to cash and futures markets with functionality and low latency quote data and order routing.
Storm will access directly into Nyse Liffe, Eurex, ICE Europe and US, Nymex, Comex, CME, Cbot and the LME immediately, with the London Stock Exchange and Nyse following shortly.
Michael Overlander, CEO of Sucden Financial, said: “This is a substantial development for Sucden Financial and its clients. Our historical focus on soft commodities and metals remains but clients increasingly require access to other asset classes such as energy, fixed income, money markets and cash equities. The new system will provide our clients with a fast, scalable single access point to all important global markets, offer improved functionality and simultaneously reduce our unit processing costs.”
Sucden Financial deals in a range of markets, covering equities, financial and commodity futures and options, as well as foreign exchange.