The Burgundy trading facility is owned by leading Scandinavian banks and authorized securities trading firms.The system was launched on May 8, 2009, providing trading in equities listed in Stockholm, Helsinki, Oslo and Copenhagen. Front Arenaâs smart order routing capability is an integrated component of the order management system which helps to extend an existing order routing setup to be truly multi-market.
Olof Neiglick, chief executive officer, Burgundy, said, âBy connecting to our platform SunGardâs Front Arena will help improve its customersâ ability to achieve best execution. In the Nordic region Front Arena is handling large order flows; in fact many of our Nordic customers use Front Arena. Burgundy can help Front Arena customers reduce fees and achieve best execution.â
Tim Dodd, head of product management for SunGardâs Front Arena business unit, said, âConnecting SunGardâs Front Arena to Burgundy will help our customers access competitive prices and lower purchasing fees on transactions. We worked quickly with Burgundy to help build the connectivity that will deliver added-value to our customers.â