Five sell-side deploy BRASS's new IOI system.
Five sell-side customers, including Piper Jaffray, have installed SunGard Trading Systems' new IOI system for distributing indications of interest (IOIs).
The system allows sell-side customers of BRASS to broadcast indications from their workstations to the major IOI networks" AutEx, Bloomberg and Reuters " simultaneously. This eliminates the need for entry across separate systems and allows BRASS users to eliminate keying indications altogether, since the system can automatically generate IOIs from BRASS orders.
"The generation of IOIs from brokers to reach institutional customers is a core function of cash-trading desks," states James Leman, president of BRASS, an operating unit of SunGard Trading Systems in a press release. "Our IOI product now makes traders even more efficient and productive by automatically creating indications based on BRASS orders." Leman adds that SunGard/BRASS is continuing to add more products and functionality.