BM&FBovespa, the Brazilian securities, commodities and futures exchange, has authorized SunGard as a provider of direct market access (DMA) for its BM&F derivatives markets.
SunGard will offer brokerage houses and clients an order routing system for trading financial and agricultural derivatives at the exchange.
The DMA access enables traders to directly access the exchange’s GTS electronic trading platform without having to transmit data through a brokers network. The connection between the exchange and the investor is monitored by the broker providing the DMA access to enable it to control customer order flow.
Three other providers currently offer DMA access to the exchange including Marcopolo Networks, Bloomberg Tradebook and Cedro Market & Finances.
SunGard is also working with BM&FBovespa on a solution for North American clients trading agricultural and financial derivatives in Brazil. It aims to help increase efficiency by automating the process of loading trades, performing bookkeeping functions and calculating margins and fees.