SunGard, a provider of software and technology services, has acquired Fox River Execution, a broker dealer that provides algorithmic trading technology and execution solutions to institutional firms trading equities and exchange-traded funds (ETFs).
Fox River Execution’s technology offerings, including Fox Trader, Fox Blaster and Fox Spotlight, will help enhance SunGard’s 360 degree approach to trading technology by providing customizable execution algorithms, an ETF liquidity discovery and trade execution solution, and post-trade analytics.
SunGard has said that the Fox River Execution’s offerings will complement its Valdi, a solution suite for multi-asset class trading, and the SunGard Global Network (SGN), a trade automation and connectivity network. Fox River Execution’s management team will continue to be led by Ronald Santella.
Mr Santella said: “Being part of SunGard will help Fox River Execution accelerate our growth plans and expand into new markets, leveraging SunGard’s global brand and resources. Our team looks forward to integrating our capabilities with SunGard’s in order to offer an enhanced set of services to capital market participants.”
Raj Mahajan, president of trading business at SunGard, said: “Fox River Execution’s algorithmic and ETF trading solutions will help advance SunGard’s 360 degree trading strategy by expanding our ability to support every step in the trade lifecycle for global market participants.”