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SOFTWARE INDUSTRY NEWS |
SunGard acquires Fox River Execution |
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SunGard 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). The terms of the deal were not disclosed.  Fox River Execution will become part of SunGard’s trading business, the company said, and would augment its ability to provide customizable algorithmic trading solutions to help customers improve execution quality, meet best execution requirements and better access available liquidity in contemporary equities markets. SunGuard said the acquisition would not have a material impact on its financial results.Raj Mahajan, president of SunGard’s trading business, said the acquisition would help advance SunGard’s 360 degree trading strategy by expanding its ability to support every step in the trade lifecycle for global market participants. |
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